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SEC FILE NUMBER
001-12629
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CUSIP NUMBER
68158N106
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 20-F [ ]Form 11-K [X]Form 10-Q
[ ] Form N-SAR
For Period Ended: March 31, 2003
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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: ________________________________________
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.
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If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
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PART 1-REGISTRANT INFORMATION
OLYMPIC CASCADE FINANCIAL CORPORATION
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Full Name of Registrant
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Former Name if Applicable
875 N. MICHIGAN AVENUE, SUITE 1560
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Address of Principal Executive Officer (Street and Number)
CHICAGO, IL 60611
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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)
[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, 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 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(c)
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. (ATTACH EXTRA SHEETS IF NEEDED)
THE FORM 10-Q COULD NOT BE FILED WITHIN THE PRESCRIBED TIME PERIOD DUE TO
UNFORESEEN TRANSMITION ERRORS IN FILING WITH THE SECURITIES AND EXCHANGE
COMMISSION BY THE COMPANY'S THIRD PARTY FILING SERVICE.
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PART IV--- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
ROBERT H. DASKAL (312) 867-3413
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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
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(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 THAT THE FOR THE SECOND QUARTER OF FISCAL YEAR 2003 IT
WILL REPORT A DECREASE IN TOTAL REVENUES AND A CORRESPONDING GREATER DECREASE IN
EXPENSES COMPARED WITH THE SAME PERIOD OF FISCAL YEAR 2002. THE DECREASE IN
TOTAL REVENUES IS PRIMARILY DUE TO A CONTINUED WEAKER OVERALL SECURITIES MARKET
CAUSED BY THE GEOPOLITICAL CRISIS SURROUNDING THE CONFLICTS IN THE MID-EAST.
HOWEVER, AS A RESULT OF MANAGEMENT'S EFFORTS TO REDUCE THE FIXED COSTS
ASSOCIATED WITH ITS BUSINESS, THE COMPANY'S LOSS FROM CONTINUING OPERATIONS
BEFORE INCOME TAXES WILL DECREASE $525,000 FROM $1,116,000 IN THE SECOND QUARTER
OF FISCAL YEAR 2002 TO $591,000 IN THE SECOND QUARTER OF FISCAL YEAR 2003.
OVERALL, THE COMPANY ANTICIPATES REPORTING A DILUTED LOSS FROM CONTINUING
OPERATIONS OF $.20 PER SHARE FOR THE SECOND QUARTER OF FISCAL YEAR 2003 AS
COMPARED TO A DILUTED LOSS FROM CONTINUING OPERATIONS OF $.50 PER SHARE FOR THE
SECOND QUARTER OF FISCAL YEAR 2002.
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OLYMPIC CASCADE FINANCIAL 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.
Date MAY 16, 2003 By: /s/ Mark Goldwasser
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MARK GOLDWASSER , CHIEF EXECUTIVE OFFICER
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange Commission,
Washington D.C. 20549, in accordance with Rule 0-3 of the General Rules and
Regulations under the Act. The information contained in or filed with the form
will be made a matter of public record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of the
registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but
need not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.
5. ELECTRONIC FILERS. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to difficulties
in electronic filing should comply with either Rule 201 or Rule 202 of
Regulation S-T (Section 232.202 or Section 232.202 of this chapter) or apply for
an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T
(Section232.12(c) of this chapter).
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ATTENTION
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
VIOLATIONS. (SEE 18 U.S.C. 1001).
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