SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number: -02290 0
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NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-k [ ] Form 2-F
[ ] Form 10-Q [ ] Form N-SAR
For Period Ended:
December 31, 1996
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
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READ ATTACHED INSTRUCTION SHEET 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
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
Full name of registrant
Efficiency Lodge, Inc.
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Former name if applicable
Southern Acceptance Corporation
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Address of principal executive office (STREET AND NUMBER)
5342 Old Floyd Road
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City, State and Zip Code
Mableton, Georgia 30059
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PART II. RULE 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 appropriate
box.)
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[ ] (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 on Form 10-K, will be filed on or
before the 15th calendar day following the prescribed due date;
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
PART III. NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not
be filed within the prescribed time period. (Attach extra sheets if
needed.)
As disclosed in the Registrant's Form 8-K Current Report, filed on
January 15, 1997, the Registrant completed a merger of Efficiency Lodge,
Inc. with and into the Registrant. Pursuant to the terms of the
merger, the Registrant changed its name from "Southern Acceptance Corporation,
Inc." to "Efficiency Lodge, Inc." and a change in control of the Registrant
occurred. Because of this merger, the management of the Registrant has been
involved in the combining of the businesses, operations and personnel of the
two companies. It has taken a few days longer than anticipated to pull the
necessary materials together for preparation of the 10-K Report. Consequently,
the Registrant has been unable to file its Form 10-KSB within the prescribed
time for the year ended December 31, 1996. The reasons causing the
Registrant to be unable to file timely could not be eliminated without
unreasonable effort or expense. The subject annual report will be filed
no later than the fifteenth calendar day following the prescribed due date.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Roy E. Barnes (770) 819-0039
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(Name) (Area Code) (Telephone number)
(2) Have all other periodic reports required under Section 13 of
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).
[ ] Yes [x] No
The registrant filed a Form 12b-25 Notification of Late Filing for its
fiscal year ended December 31, 1995.
(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.
For explanation, see attached Exhibit 1.
EFFICIENCY LODGE, 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
March 31, 1996
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By Roy E. Barnes
Secretary-Treasurer
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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.
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 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 the 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 Regulations S-T or apply
for an adjustment in filing date pursuant to Rule 13(b) of Regulations
S-T.
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Exhibit 1
The Registrant anticipates that significant changes in results of
operations from the corresponding period for the last fiscal year will be
reflected in the earnings statements to be included in the Registrant's
10-KSB. As a result of the merger of Efficiency Lodge, Inc., ("ELI")
with and into the Registrant on December 31, 1996, as described in the
Registrant's Form 8-K Current report filed on January 15, 1997, the
Registrant is now engaged in a much larger business. Prior to the
merger, the Registrant had a very small real estate business with
Revenues for its year ended December 31, 1995 of $224,574, and a
Net Loss of $156,302. ELI, which merged into the Registrant effective
December 31, 1996, is an extended stay lodging company which had
Revenues of $3,292,952 in its year ending December 31, 1995 and Net
Earnings of $237,059. The results of operations for the Registrant
should closely resemble those discussed in connection with
ELI in the Registrant's Proxy Statement, dated October 8, 1996.
