SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (D)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) April 1, 2003
MEGO FINANCIAL CORP.
___________________________________________
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER
NEW YORK 1-8645 13-5629885
(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION OF FILE NUMBER) IDENTIFICATION NO.)
FORMATION)
1645 VILLAGE CENTER CIRCLE, LAS VEGAS, NV 89134
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (702) 992-4200
Item 2. ACQUISITION OR DISPOSITION OF ASSETS.
On March 20, 2003 the Company sold a portfolio of vacation interval ownership
receivables representing the purchase money indebtedness of certain purchasers
of vacation intervals. The receivables were originated by the Company in the
course of conducting its ordinary business of selling and marketing vacation
intervals.
The purchaser, Resort Finance Corporation, is a Delaware corporation and has a
principal place of business at 4 Marshall Street, North Adams, Massachusetts
01247. The purchase price paid by Resort Finance Corporation was
$19,884,907.80.
There is no material relationship between the Company, its affiliates, officers
and directors and the purchaser.
Item 7. FINANCIAL STATEMENTS AND EXHIBITS
03-4 Press release dated March 26, 2003.
03-5 Receivables Purchase Agreement between Seller, Mego Financial Corporation
dba Leisure Industries Corporation, through its subsidiary, Leisure Homes
Corporation and Purchaser, Resort Finance Corporation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MEGO FINANCIAL CORP.
By: /s/ Floyd W. Kephart
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Floyd W. Kephart
Chief Executive Officer
Dated: April 1, 2003