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U.S. SECURITIES AND EXCHANGE COMMISSION +-------------+
WASHINGTON D.C. 20549 | OMB Number |
| 3235-0058 |
FORM 12b-25 | expires |
NOTIFICATION OF LATE FILING | 01/31/2002 |
| |
| SEC File # |
| 1-14116 |
| CUSIP # |
| |
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check box
Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [X] Form N-SAR
For Period Ended: June 30, 1999
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ________________________
_____________________________________________________________________________
| |
|Read Instruction (on back page) Before Preparing Form. Please Print or Type |
| |
| Nothing in this form shall be construed to imply that the Commission has |
| verified any information contained herein. |
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant:
Consumer Portfolio Services, Inc.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
16355 Laguna Canyon Road
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City, State, Zip Code
Irvine, California 92618
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PART II - RULES 12b-25 (b) AND (c)
If the subject report could not be filed without unreasonable effort or
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate)
|(a) The reasons described in reasonable detail in Part III of this form
| could not be eliminated without unreasonable effort or expense;
/X/ |(b) The subject annual report, semi-annual report, transition report on
| Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be
| filed on or before the fifteenth calendar day following the prescribed
| due date; or the subject quarterly report of transition report on Form
| 10-Q, or portion thereof will be filed on or before the fifth
| calendar day following the prescribed due date; and
|(c) The accountant's statement or other exhibit required by Rule 12b-25(c)
| has been attached if applicable.
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PART III - NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR or the transition report or portion thereof could not be filed
within the prescribed time period.
The report on Form 10-Q of Consumer Portfolio Services, Inc., the registrant,
which report includes the registrant's interim unaudited financial statements
for the three-month and six-month periods ended June 30, 1999, could not be
filed within the prescribed time period due to unforeseen delays arising in its
preparation. Such delays are attributable to certain individuals having left the
registrant's employment during the quarter ended June 30, 1999, including the
registrant's chief financial officer. The registrant has therefore been unable
to prepare and place into final form the subject report, within the prescribed
time period and without unreasonable effort or expense.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
James Stock 949 753-6800
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(Name) (Area Code) (Telephone No.)
(2) have all other periodic reports required under section 13 or 15(d) of
the Securities Exchange Act of 1934 or section 30 of the Investment Company
Act of 1940 during the preceding 12 months or for such shorter period that
the registrant was required to file such report(s) been filed? If the
answer is no, identify report(s).
[x]Yes [ ]No
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(3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by
the earnings statements to be included in the subject report or portion
thereof?
[X]Yes [ ]No
If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.
The registrant does expect that a significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report. The Company expects to
report as follows with respect to its results of operations for the three-month
and six-month periods ended June 30, 1999:
For the three-month period ended June 30, 1999, total revenues decreased 82.3%
to $5.3 million, compared with $29.8 million in the prior year's period. A net
loss of 11.6 million, or $0.62 per share on 18.8 million diluted shares was
incurred in the current period, compared with earnings of $5.9 million, or $0.36
per share on 16.8 million diluted shares, in the prior year's period.
For the six-month period ended June 30, 1999, total revenues decreased 52.1% to
$26.1 million, compared with $54.5 million in the prior year's period. A net
loss of $13.8 million, or $0.80 per share on 17.2 million diluted shares was
incurred in the current period, compared with earnings of $11.5 million, or
$0.70 per share on 16.7 million diluted shares, in the prior year's period.
All of the above are approximations, and are subject to adjustment as the
registrant completes its preparation of the required report on Form 10-Q.
Consumer Portfolio Services, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 17, 1999 By: /s/ James Stock
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James Stock, Vice President
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. if the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority
to sign on behalf of the registrant shall be filed with the form.
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CRF 240.12b-25) of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in
or filed with the form will be made a matter of public record in the
Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities
of the registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but need
not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.
5. ELECTRONIC FILERS. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties.
Filers unable to submit a report within the time period prescribed due to
difficulties in electronic filing should comply with either Rule 201 or
Rule 202 of Regulation S-T (Section 232.201 or Section 232.202 of this
chapter) or apply for an adjustment in filing date pursuant to Rule 13(b)
of Regulation S-T (Section 232.13(b) of this chapter).
