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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-28154
FORM 10-K CUSIP NUMBER
651053
For Period Ended: December 31, 1997
[Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.]
PART I - REGISTRANT INFORMATION
NEWCARE HEALTH CORPORATION
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Full Name of Registrant
Not Applicable
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Former Name if Applicable
3600 Oak Manor Lane
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Address of Principal Executive Office (Street and Number)
Largo, Florida 34644
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City, State and Zip Code
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;
(b) The subject annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be
filed on or before the fifteenth calendar day following the
[X] 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 has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
Due to the nature of the Company's business activities, the person responsible
for preparation of the financial information for the Form 10-K has been out of
town and therefore unable to complete the financials and file the Form 10-K in
a timely manner.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Jon D. Sawyer 303/893-2300
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(Name) (Area Code)(Telephone Number)
(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
reports) been filed? If answer is no, identify report(s). [X]Yes [ ]No
(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
NARRATIVE AND QUALITATIVE EXPLANATION:
The Company expects to report that during the year ended December 31, 1997, it
had total operating revenues of approximately $32,985,000 and a loss before an
extraordinary item of approximately $3,979,000. The Company also expects to
report a net loss of approximately $3,100,000. During the year ended December
31, 1996, the Company had total operating revenue of $28,683,704, income
before discontinued operations of $99,936, and a net loss of $2,226,292.
The increase in revenues during 1997 was a result of an increase in the number
of facilities operated by the Company during the year. The increased loss
before an extraordinary item and discontinued operations was primarily due to
increased general and administative expenses as a result of increased activity
surrounding acquisitions, and included management salaries, related costs,
travel expenses, legal and audit fees, supplies and corporate insurance.
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NEWCARE HEALTH CORPORATION
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
NEWCARE HEALTH CORPORATION
Date: March 31, 1998 By /s/ James H. Sanregret
James H. Sanregret
Chief Financial Officer
[ATTENTION: Intentional misstatements of omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).]
