UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                   FORM 12b-25

             [ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q

For Period Ended: September 30, 2002                 SEC FILE NUMBER 000-27557
                                                     CUSIP NUMBER 653736 10 8

[ ] 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 Period Ended: September 30, 2000
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Nothing  in this  form  shall be  construed  to imply  that the  Commission  has
verified any information contained herein.
================================================================================

If the notification  relates to a portion of the filing checked above,  identify
the Item(s) to which the notification relates: Entire Form 10-KSB

Part I - Registrant Information

         Full Name of Registrant             Nicholas Investment Company, Inc.
                                             ---------------------------------

         Former Name if Applicable                   N/A
                                                  -----------

         Address of Principal Executive Office:
                        3430 East Russell Road
                        Las Vegas, NV 89120

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;

     (b)  The subject annual report,  semi-annual  report,  transition report on
          Form 10-K,  Form 2-F, 11-F, or From 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 or 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 form 10-K,  11-K,  20-F,
10-Q or N-SAR or portion  thereof could not be filed within the prescribed  time
period.

     Certain aspects of the registrant's  financial review process have not been
completed prior to the filing date.

Part IV - Other Information

     (1)  Name and  telephone  number  of person  to  contact  in regard to this
          notification.

               Darryl E. Shcuttloffel      CEO              (702) 951-6077
               ---------------------------------------------------------------
               (Name)                      (Title)          (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 12 months or for such  shorter  period
          that the registrant was required to file such report(s) been filed? If
          the answer if 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?

                                                        ( ) Yes (X ) No

          If so, attach an explanation of the anticipated change, both narrative
          and  quantitatively,  and,  if  appropriate,  state the  reasons why a
          reasonable estimate of the results cannot be made.

                           N/A

                        Nicholas Investment Company, Inc.
  ---------------------------------------------------------------------------
                  (Name of Registrant as specified in Charter)

has  caused  this  notification  to be signed on its  behalf by the  undersigned
thereunto duly authorized.


Date: November 13, 2002                 By:  /s/ Darryl E. Schuttolffel
                                           ---------------------------------
                                        Name:  Darryl E. Schuttloffel
                                        Title: CEO