SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 12b-25 NOTIFICATION OF LATE FILING |
SEC FILE NUMBER | 0-50235 | |
CUSIP NUMBER |
For the period ended: March 31, 2007 | | 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 NSAR For the transition period ended: Nothing in this form shall be construed to imply that the Commission has verified any information contained herein. If the notification related to a portion of the filing checked above, identify the item(s) to which notification relates: |
Part I-Registrant Information | ||
Full name of Registrant: Former name if Applicable: Address of Principal Executive Office (Street and Number): City, State and Zip Code: | Performance Capital Management, LLC 7001 Village Drive, Suite 255 Buena Park, California 90621 |
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 box if appropriate.) | |||
|X| | (a) The reasons described in 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 of Forms 10-K, 10-KSB, 20-F, 11-K, Form N-SAR or Form N-CSR, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, 10-QSB, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and |
Part III-Narrative State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, 10-QSB, N-SAR, N-CSR or the transition report portion thereof could not be filed within the prescribed time period. Performance Capital Management, LLC (the "Company") cannot complete its quarterly report on Form 10-QSB by the required filing date of May 15, 2007 without unreasonable effort and expense. The preparation of the Company's financial statements by management and the review of the financial statements by its independent accountants has taken longer than anticipated due to a number of factors, including the Company awaiting the completion of a study by an outside consultant to determine the accounting method the Company should use for its loan portfolios. The Company anticipates filing its quarterly report on Form 10-QSB within the five-day extension period provided under Rule 12b-25 of the Securities Exchange Act of 1934, as amended. Part IV-Other Information (1) Name and telephone number of person to contact in regard to this notification: |
William Constantino | 714 | 736-3780 |
(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 report(s) been filed? |X| Yes | | No If the answer is no, identify report(s)(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 Company anticipates that its net revenues will be approximately $1.9 million for the three months ended March 31, 2007, as compared to approximately $2.4 million for the three months ended March 31, 2006, an approximately $500,000 decrease. The Company also anticipates that its operating costs and expenses will remain about the same at approximately $1.8 million for the three months ended March 31, 2007, as compared to approximately $1.9 million for the three months ended March 31, 2006. The Company anticipates that it incurred a net loss of approximately $94,000 for the three months ended March 31, 2007, as compared with net income of approximately $264,000 for the three months ended March 31, 2006. |
Date: May 15, 2007 | By: | /s/ David J. Caldwell David J. Caldwell Chief Operations 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. Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001). |