UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
(Check One ) [ ] Form 10-K [ ] Form 20-F [ ] Form 11-K
[X] Form 10-Q [ ] Form N-SAR
For the Period Ended April 30, 2003
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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 Instructions (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
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates: N/A
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PART I - REGISTRANT INFORMATION
NATIONAL AUTO CREDIT, INC.
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(Full Name of Registrant)
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(Former Name if Applicable)
555 Madison Avenue, 29th Floor
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(Address of principal executive offices)
New York, New York 10022
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(City, State and Zip Code)
PART II - RULES 12B-25(B) AND (C)
If the subject report could not be filled 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 on Form 10-Q, or portion thereof will be
filled on or before the fifth calendar day following the prescribed due
date; or
[ ] (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 Forms 10-K, 20-F, 11-F 10-Q,
N-SAR, or the transition report portion thereof, could not be filed within the
prescribed time period.
The Company requires additional as time to complete the filing of its
Quarterly Report on Form 10-Q for the period ended April 30, 2003 as a
result of the consolidation of the Company's acquisition, in April 2003, of
OMI Business Communications, Inc. The Company's accountants and Audit
Committee require additional time to review the financial statements and
other portions of the 10-Q, which, as a result of such acquisition, contain
historical information unfamiliar to such persons.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Robert V. Cuddihy, Jr. 212 644-1400
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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 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 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
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 reported a net loss of $5.9 million for the six months
ended July 31, 2000. It is currently anticipated that for the six
months ended July 31, 2001 the Registrant will report a net loss of
$5.1 million.
NATIONAL AUTO CREDIT, 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
hereunto duly authorized
Date June 16, 2003 By /s/ Robert V. Cuddihy, Jr.
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Chief Financial Officer
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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