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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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SEC FILE NUMBER
0-26072
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CUSIP NUMBER
932723208
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[X] Form 10-K and [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q and [ ] Form N-SAR
Form 10-KSB Form 10-QSB
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For Period Ended: December 31, 1998
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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:
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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
Walnut Financial Services, Inc. (the "Company")
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Former name, if applicable
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Address of Principal Executive Office (Street and Number)
8000 Towers Crescent Drive, Suite 1070
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City, State and Zip Code Vienna, Virginia 22182
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PART II - RULES 12b-15(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)
[X] (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 or 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
[X] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
Attached as Exhibit 1 hereto.
PART III - NARRATIVE
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
11-K, 20-F, 10-Q, Form 10-QSB, N-SAR or the transition report or portion thereof
could not be filed within the prescribed period.
The registrant's independent certified public accountants are still
engaged in audit fieldwork with respect to a subsidiary of the Company
acquired during 1998. The registrant's audited financial statements at
and for the year ended December 31, 1998, can therefore not presently
be completed. The registrant requires information from such financial
statements to complete every portion of its Annual Report on Form 10-K.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Robert F. Mauer (703) 448-3771
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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
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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
(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?
[ ] Yes [X] No
Walnut Financial Services, Inc.
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(Name of Registrant as specified in its charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: March 31, 1999 By: /s/ Robert F. Mauer
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Name: Robert F. Mauer
Title: Treasurer
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EXHIBIT 1
March 30, 1999
Board of Directors
Walnut Financial Services, Inc.
8000 Towers Crescent Drive, Suite 1070
Vienna, Virginia 22182
Gentlemen:
The Company, subsequent to December 31, 1998, engaged Richard A. Eisner &
Company, LLP to audit the financial statements of a recently acquired
subsidiary. The audit fieldwork has not yet been completed. We consent to the
use of this statement in the filing of Form 12b-25.
Very truly yours,
/s/ Richard A. Eisner & Company, LLP
Richard A. Eisner & Company, LLP
