SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM IO-Q SB
(Mark One)
[ x ] Quarterly report pursuant to section 13 or 15(d) of the
Securities Exchange Act of 1934
For the quarterly period ended September 30, 1997 or
[ ] Transition report pursuant to section 13 or 15(d) of
the Securities Exchange Act of 1934
For the Transition period from_______to_______
Commission file number 33-88928-D
U.S. AUTOMOBILE ACCEPTANCE 1995-1, INC.
(Exact name of registrant as specified in its charter)
Texas 75-2578376
(State or other jurisdiction of incorporation (I.R.S.
Employer
or organization) Identification
No.)
1120 NW 63rd , Suite G-106, Oklahoma City, Oklahoma 73116
(Address of principal executive offices)
(405) 843-3135
(Registrant's telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed
since last report)
Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 123 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
Yes X No
APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY
PROCEEDINGS DURING THE PRECEDING FIVE YEARS:
Indicate by check mark whether the registrant has filed all
documents and reports required to be filed by Sections 12, 13 or
15(d) of the Securities Exchange Act of 1934 subsequent to the
distribution of securities under a plan confirmed by a court.
Yes No Not
Applicable.
APPLICABLE ONLY TO CORPORATE ISSUERS:
Indicate the number of shares outstanding of each of the
issuer's classes of common stock, as of the latest practicable
date.
1,000 shares of Common Stock
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements
See Attached
Item 2. Management's Discussion and Analysis of Financial Condition
and Results of Operations
U.S. Automobile Acceptance Corporation 1995-1, Inc. (the
Company) was incorporated in Texas on January 12, 1995.
The Company was formed for the purpose of purchasing,
collecting and servicing motor vehicle retail installment
contracts (the "Contracts"). In mid-1995, the Company
filed a Form SB-2 Registration Statement under the
Securities Act of 1933, as amended, with the Securities
and Exchange Commission with respect to an offering of up
to $ 9,900,000 of 14% Secured Promissory Notes due
December 31, 1999 (the "Notes"). The minimum note
subscription escrow requirements of $500,000 was exceeded
in September 1995. The company commenced normal
operations in October 1995. The Company's Secured Note
offering was fully subscribed in July 1996. As of
September 30, 1997 the Company had purchased
approximately 1600 automobile finance contracts with
aggregate balances of approximately $9,000,000.
The Company incurred $317,961 in operating losses as of
December 31, 1996. The company became profitable during
the first quarter of 1997 and continues to be profitable
during the nine months ended September 30, 1997.
PART II - OTHER INFORMATION
Item 1. Legal Proceedings
None
Item 2. Changes in Securities
None
Item 3. Defaults Upon Senior Securities
None
Item 4. Submission of Matters to a Vote of Security
Holders
None
Item 5. Other Information
None
Item 6. Exhibits and Reports on Form 8-K
None
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
(Registrant) U. S. Automobile Acceptance 1995-1, Inc
Date: November 7, 1997 (Signature)
Michael R. Marshall,
President and Chief
Financial Officer
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> SEP-30-1997
<CASH> 1,032,498
<SECURITIES> 0
<RECEIVABLES> 9,052,219
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 10,084,717
<PP&E> 0
<DEPRECIATION> 0
<TOTAL-ASSETS> 11,843,050
<CURRENT-LIABILITIES> 1,934,337
<BONDS> 0
0
0
<COMMON> 1,000
<OTHER-SE> (1,462)
<TOTAL-LIABILITY-AND-EQUITY> 11,843,050
<SALES> 44,962
<TOTAL-REVENUES> 546,437
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 163,355
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 346,500
<INCOME-PRETAX> 36,582
<INCOME-TAX> 36,582
<INCOME-CONTINUING> 36,582
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 36,582
<EPS-PRIMARY> 36.58
<EPS-DILUTED> 36.58
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