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SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12b-25 Commission File Number 0-21821 -------- NOTIFICATION OF LATE FILING
Form 10-Q
Full Name of Registrant: CONSOLIDATED CAPITAL OF NORTH AMERICA, INC.
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 appropriate box) /X/ (a) The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
THE REGISTRANT RECENTLY AGREED WITH ITS SECURED LENDERS TO BEGIN THE PROCESS OF DISPOSING OF THE ASSETS OF ITS THREE OPERATING SUBSIDIARIES. SINCE THE REPORTING REQUIREMENTS ARE DIFFERENT UNDER THE CIRCUMSTANCES THE REGISTRANT NEEDS ADDITIONAL TIME IN ORDER TO ACCUMULATE THE NECESSARY INFORMATION FOR A CORRECT AND TIMELY FILING. AS A RESULT, THE REGISTRANT HAS BEEN UNABLE TO COMPLETE AND TIMELY FILE THE SUBJECT FORM 10-QSB WITHOUT UNREASONABLE EFFORT AND EXPENSE.
1) Name and telephone number of person to contact in regard to this notification Paul Bagley 888 313-8051
(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.
AT THE PRESENT TIME THE REGISTRANT CAN NOT MAKE A REASONABLE ESTIMATE OF THE AMOUNT OF THE LOSS FOR THE SIX MONTHS ENDED JUNE 30, 1999 BUT BASED UPON INCOMPLETE INFORMATION THE LOSS WOULD BE GREATER THAN THE LOSS INCURRED FOR THE SIX MONTHS ENDED JUNE 30, 1998. THE LOSS INCURRED FOR THE SIX MONTHS ENDED JUNE 30, 1998 AMOUNTED TO APPROXIMATELY $7 MILLION.
CONSOLIDATED CAPITAL OF NORTH AMERICA, INC.
Has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized. Date August 17, 1999 By: /s/ Paul Bagley PAUL BAGLEY, CHIEF EXECUTIVE OFFICER
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