SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Commission File Number: 0-30776
NOTIFICATION OF LATE FILING
(Check One):/ /Form 10-K / /Form 11-K / /Form 20-F /X/Form 10-Q / /Form N-SAR
For Period Ended March 31, 2002
[ ] 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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Read attached instruction sheet 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:
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PART I
REGISTRANT INFORMATION
Full name of registrant: ANC Rental Corporation
Former name if applicable
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Address of principal executive office (Street and number)
200 South Andrews Avenue, Fort Lauderdale, Florida 33301
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 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, 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
[ ] (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 Form 10-K, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attach extra sheets if needed.)
On November 13, 2001 (the "Petition Date"), ANC Rental Corporation
(the "Company"), and certain of its U.S. subsidiaries, including Alamo
Rent-A-Car, LLC, National Car Rental Systems, Inc. and Spirit Rent-A-Car,
Inc. d/b/a Alamo Local (collectively, the "Debtors"), filed voluntary
petitions for relief under chapter 11 of title 11 of the United States Code
in the United States Bankruptcy Court for the District of Delaware (Case
No. 01 - 11200). The Debtors continue to manage their properties and
operate their businesses as "debtors-in-possession" under the jurisdiction
of the Bankruptcy Court and in accordance with the provisions of the
Bankruptcy Code.
Since the Petition Date, the Company's remaining accounting and
financial staff, who are critical to the preparation of the Form 10-Q, have
been primarily engaged in dealing with bankruptcy related matters and,
together with the Company's advisors, formulating a substantially modified
business strategy to promptly formulate and consummate a reorganization
plan. The development and implementation of the Company's chapter 11
reorganization include not only the onerous administration of the chapter
11 cases, but also, among other burdens, preparing detailed financial
budgets and projections, formulating and preparing disclosure materials
required by the Bankruptcy Court, analyzing accounts payable and
receivable, assembling data for the valuation and schedule of the Company's
assets and liabilities and statement of financial affairs to be filed with
the Bankruptcy Court, seeking financing, and preparing the monthly
operating reports for the Bankruptcy Court and United States Trustee. In
light of the significant resources and time dedicated by the Company's
accounting and financial staff to such chapter 11 filing, the Company has
been unable to complete its quarterly report on Form 10-Q for the period
ending March 31, 2002.
The Company has not received the relief it requested from the
Securities and Exchange Commission concerning its periodic reports.
Accordingly, the Company is in good faith proceeding diligently to complete
its Form 10-Q for the period ending March 31, 2002. The Company expects to
file the Form 10-Q as soon as practicable. However, the Company cannot
presently predict when its accounting and financial staff will complete the
quarterly report and the quarterly financial statements to be included in
the quarterly report and, thus, the Company cannot estimate when the Form
10-Q will be filed with the Securities and Exchange Commission.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Wayne Moor (954) 320-4000
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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 report(s) been filed?
If the answer is no, identify report(s).
/ / Yes /X/ No
Form 10-Q for the period ending September 30, 2001
(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's quarterly report on Form 10-Q for the period ending
March 31, 2002 has not been finalized. However, in light of the events of
September 11, 2001, the Company's filing for relief under chapter 11 and
other factors, the Company expects that its results of operations for the
quarter ended March 31, 2002 will show a decline from the results of
operations for the equivalent quarter in the prior fiscal year.
ANC Rental 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
thereunto duly authorized.
Date: May 16, 2002 By: /s/ Wayne Moor
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Wayne Moor
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.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 of the General Rules and
Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, DC 20549, in accordance with Rule 0-3 of
the General Rules and Regulations under the Act. The information contained
in or filed with the form will be made a matter of the public record in the
Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25
but need not restate information that has been correctly furnished. The
form shall be clearly identified as an amended notification.
5. Electronic Filers. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties.
Filers unable to submit a report within the time period prescribed due to
difficulties in electronic filing should comply with either Rule 201 or
Rule 202 of Regulation S-T or apply for an adjustment in filing date
pursuant to Rule 13(b) of Regulation S-T.