U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING SEC FILE NUMBER
2-97254-NY
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(Check One): CUSIP NUMBER
33762A 10 6
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[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1997 .
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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:
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: FirstAmerica Automotive, Inc.
Former Name if Applicable: Pacific National Venture, Inc.
Address of Principal Executive Office: 601 Brannan Street
San Francisco, CA 94107
PART II - RULES 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;
[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 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 and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR or the transition report or portion
thereof could not be filed within the prescribed time period.
Please see Attachment 1A.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Debra Smithart Chief Financial Officer (650) 985-2119
(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
(None were required.)
(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.
Please see Attachment 1B
SIGNATURE
FirstAmerica Automotive, Inc. has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.
FIRSTAMERICA AUTOMOTIVE, INC.
Date: 4/29/98 By: /s/ Debra Smithart
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Debra Smithart
Chief Financial Officer
ATTACHMENT 1A
PART III--NARRATIVE
Prior to July 11, 1997, the registrant had no material assets or operations. On
that date, the registrant combined with a group of six automobile dealerships
under common ownership and control and subsequently acquired an additional eight
automobile dealerships in the year ended December 31, 1997. Management has
devoted substantially all of its limited resources to the acquisition and
management of these assets and the preparation of its audited financial
statements for the year ended December 31, 1997. In consideration of this
allocation of the registrant's resources, the registrant cannot, as of this
date, complete the preparation of its Annual Report on Form 10-K for the year
ended December 31, 1997 (its first filing required pursuant to Section 15(d) of
the Securities and Exchange Act of 1934, as amended) by the filing deadline
thereof without unreasonable effort and expense.
ATTACHMENT 1B
PART IV(3)--OTHER INFORMATION
The earnings statements to be included in the registrant's Annual Report on Form
10-K for the year ended December 31, 1997, will differ substantially from the
results of operations for the corresponding prior year period due to numerous
acquisitions made by the registrant during the last fiscal year.