8-K 1 doc1.txt 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 ----------------------------------- Floyd W. Kephart Chief Executive Officer Dated: April 1, 2003