SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 001-12396
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: September 30, 2005
[_] 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 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: ________________________
PART I
REGISTRANT INFORMATION
THE BEARD COMPANY
Full name of registrant
Former name if applicable
Enterprise Plaza, Suite 320
5600 N. May
Address of principal executive office (Street and number)
Oklahoma City, Oklahoma 73112
City, state and zip code
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.)
| (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
[x] | 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, 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 why the 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.)
The personnel responsible for the preparation of the Form 10Q have been
primarily engaged in preparing what has become a lengthy response to questions
raised by the SEC's Accounting Branch about The Beard Company's (the "Company")
Form 10K for the year ended December 31, 2004. The response involves complex
issues and necessitates obtaining information from or about several other
parties or entities and has consumed a significant amount of time that Beard
personnel would normally devote to the preparation of the Form 10Q.
In addition, the Company utilizes decentralized accounting for the
operations of several of the subsidiaries in the consolidated group. As a result
of delays in closing the books of accounts of several of the Company's
subsidiaries and due to the matter discussed above, more time is needed to
prepare complete and accurate consolidated financial statements.
The issues involved could not be resolved in time to meet the required
filing deadline.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Herb Mee, Jr.
President - Chief
Financial Officer 405 842-2333
(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).
[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 Company anticipates there will be a significant change in results of
operations from the nine months ended September 30, 2004 to the nine months
ended September 30, 2005. The Company presently anticipates that its results of
operations for the nine months ended September 30, 2005 will reflect a loss of
$1,324,000 compared to earnings of $1,488,000 for the nine months ended
September 30, 2004. The primary reason for the $2,812,000 deterioration in
results is the receipt, in 2004, of $2,943,000 in litigation settlement proceeds
with no comparable receipt in the first nine months of 2005.
THE BEARD COMPANY has caused this notification to be signed on its behalf
by the undersigned thereunto duly authorized.
Date November 15, 2005 By: /s/ Herb Mee, Jr.
Herb Mee, Jr.
President - Chief Financial Officer