0001654954-21-003676.txt : 20210401 0001654954-21-003676.hdr.sgml : 20210401 20210401060041 ACCESSION NUMBER: 0001654954-21-003676 CONFORMED SUBMISSION TYPE: NT 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20210401 FILED AS OF DATE: 20210401 DATE AS OF CHANGE: 20210401 EFFECTIVENESS DATE: 20210401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AEROCENTURY CORP CENTRAL INDEX KEY: 0001036848 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359] IRS NUMBER: 943263974 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NT 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13387 FILM NUMBER: 21795873 BUSINESS ADDRESS: STREET 1: 1440 CHAPIN AVE STE 310 CITY: BURLINGAME STATE: CA ZIP: 94010 BUSINESS PHONE: 6503401888 MAIL ADDRESS: STREET 1: 1440 CHAPIN AVENUE SUITE 310 CITY: BURLINGAME STATE: CA ZIP: 94010 FORMER COMPANY: FORMER CONFORMED NAME: AEROMAX INC DATE OF NAME CHANGE: 19970331 NT 10-K 1 form12b25ACYNT10.htm ACY FORM NT-10 form12b25ACYNT10

U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 12b-25
 
SEC File Number 001-13387
CUSIP Number: 007737109
 
NOTICE OF LATE FILING
(Check One):
 
 
[ X ] Form 10-K     [_]  Form 20-F     [_] Form 11-K     [_] Form 10-Q     [_] Form 10-D [_] Form N-CEN
[_] Form N-CSR
 
For Period Ended: December 31, 2020
 
[  ] Transition Report on Form 10-K
[  ] Transition Report on Form 20-F
[  ] Transition Report on Form 11-K
[  ] Transition Report on Form 10-Q
 
 
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:  N/A
 
 
Part I--Registrant Information
 
 
          Full Name of Registrant:           AEROCENTURY CORP.
 
          Former Name if Applicable:
 
          Address of Principal Executive Office (Street and Number):  1440 CHAPIN AVENUE, SUITE 310 BURLINGAME CA 94010
 
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 12(b)-25(b), the following should be completed.   (Check box if appropriate)
 
 
 
 
 
 
 
(a)
The reason 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, Form 11-K, Form N-CEN or Form N-CSR, 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 subject distribution report on Form 10-D, 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 Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
 
The Registrant is unable to file its Annual Report on Form 10-K within the prescribed time period because the significant effort in preparing for the filing of the voluntary petition for relief under Chapter 11 of Title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware on March 29, 2021 required a dedication of Registrant personnel and resources that precluded the Registrant from completing the coordination and review of its financial statements for the reporting period by the Registrant’s auditors.
 
Part IV--Other Information
 
    (1) Name and telephone number of person to contact in regard to this notification:  Timothy Harris (650-813-5784

 
(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
 
(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 quantitively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.
The registrant anticipates that the unaudited results of operations for the fiscal year ended December 31, 2020 will reflect a pre-tax loss of approximately $45.8 million and an after-tax loss of approximately $42.2 million, whereas results of operations for the fiscal year ended December 31, 2019 reflected a pre-tax loss of approximately $21.2 million and an after-tax loss of approximately $16.7 million. The greater losses in fiscal 2020 resulted mostly from reduced operating lease and maintenance revenue in fiscal 2020 as compared to fiscal 2019.
 
AEROCENTURY CORP.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
 
Date:  April 1, 2021
By:  /s/ Harold M. Lyons
 
Harold M. Lyons,
SVP Finance, and CFO