UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-24110
FORM 10-K CUSIP NUMBER
651053
For Period Ended: December 31, 1998
[Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.]
PART I - REGISTRANT INFORMATION
NEWCARE HEALTH CORPORATION
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Full Name of Registrant
Not Applicable
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Former Name if Applicable
6000 Lake Forrest Drive, Suite 200
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Address of Principal Executive Office (Street and Number)
Atlanta, Georgia 30328
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City, State and Zip Code
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)
(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, 11-K, Form N-SAR, or portion thereof, will be
filed on or before the fifteenth calendar day following the
[X] prescribed due date; or the subject quarterly report of 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 has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
The Company has been unable to timely file its Form 10-K because the Company
was unable to complete the document in time to submit it to the members of the
Board of Directors for their approval. The document is currently being
reviewed by the Board and should be finalized and filed within a couple of
days.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Jon D. Sawyer 303/893-2300
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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
reports) 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
NARRATIVE AND QUALITATIVE EXPLANATION OF THE ANTICIPATED CHANGE:
The Company expects to report a net loss for the year ended December 31, 1998
of $7,809,343 ($.65 per share) as compared to a net loss of $3,099,502 ($.29
per share) for the year ended December 31, 1997. The increased net loss is
primarily attributed to a drop in the percentage of beds occupied at its
nursing centers compared to the prior year; provisions for bad debts which
totaled $4,749,309 for 1998; and increased general and administrative
expenses, as a result of the overall growth of the Company's operations and
the additional salaries of Executive Officers and senior staff members who
joined the Company in July 1998.
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NEWCARE HEALTH 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
hereunto duly authorized.
NEWCARE HEALTH CORPORATION
By:/s/ Darrell C. Tucker
Darrell C. Tucker, President
Date: March 31, 1999
[ATTENTION: Intentional misstatements of omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).]