SEC FILE NUMBER
001-12396
CUSIP NUMBER
07384R 40 8
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): [x] Form 10-K [_] Form 20-F [_] Form 11-K [_] Form 10-Q
[_] Form 10-D [_] Form N-SAR [_] N-CSR
For Period Ended: December 31, 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 Instruction (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: ________________________
PART I
REGISTRANT INFORMATION
Full Name of Registrant: THE BEARD COMPANY
Address of Principal Executive Office:
Enterprise Plaza, Suite 320
5600 North May Avenue
Oklahoma City, OK 73112
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, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or
[x] | 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 subject
| distribution report on Form 10-D, 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 Forms 10-K, 20-F, 11-K, 10-Q,10-D,
N-SAR, N-CSR, or the transition report or portion thereof, could not be filed
within the prescribed time period.
The Beard Company (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 matters discussed below more time is needed to
prepare complete and accurate consolidated financial statements.
The Company is awaiting the results of an audit of an entity in which the
Company had an investment. Disclosures in the Company's Form 10k could be
affected by the results of that audit which is not yet complete.
In addition, the Company is involved in a negotiation process concerning
its coal fines recovery project in West Virginia which could see significant
developments within the first two weeks of April, 2006. The Company feels
disclosures based upon the latest information available regarding this process
would be beneficial to the reader of the 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. 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 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 year ended December 31, 2004 to the year ended December 31,
2005. The Company presently anticipates that its results of operations for the
year ended December 31, 2005 will reflect a loss of $2,160,000 compared to
earnings of $937,000 for the year ended December 31, 2004. The primary reason
for the $3,097,000 deterioration in results is the receipt, in 2004, of
$2,943,000 in litigation settlement proceeds with no comparable receipt in the
year 2005.
THE BEARD COMPANY
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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: March 31, 2006 By HERB MEE, JR.
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Herb Mee, Jr., President