8-K

                       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 23, 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 5.  OTHER EVENTS AND REGULATION FD DISCLOSURE

The Company has issued a public notice disclosing the receipt of a Staff
Determination on April 16, 2003 from The Nasdaq Stock Market, Inc. (Nasdaq) for
failure to comply with Marketplace Rule 4310(c)(14). The Company has not yet
filed an Annual Report on Form 10-K with the Securities and Exchange Commission
for the fiscal year ending December 31, 2002.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

A copy of the press release is attached as Exhibit 03-7.



                                   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 23, 2003

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EX-3.07

[LEISURE INDUSTRIES CORPORATION LOGO]


                                     Contact:

                                              Kella Brown, Vice President
                                              Corporate Communications
                                              Leisure Industries Corporation
                                              kbrown@leisureindustries.com
                                             (702) 992-4272


       LEISURE INDUSTRIES CORP. RECEIVES NASDAQ STAFF DETERMINATION LETTER




LAS VEGAS, NEVADA. April 23, 2003 - Leisure Industries Corporation of America
(Nasdaq: LESRE) a vacation interval resort development and marketing company,
today announced the receipt of a Nasdaq Staff Determination on the requirements
set forth in Marketplace Rule 4310(c)(14). The Staff Determination states that
the Company's securities are subject to delisting from The Nasdaq
National/SmallCap Market.

Leisure Industries has requested a hearing before a Nasdaq Listing
Qualifications Panel in accordance with Marketplace Rule 4800 Series to review
the Staff Determination. There can be no assurance the Panel will grant the
Company's request for continued listing.

Nasdaq asserts that the Company fails to comply with the rule because Leisure
Industries has not yet filed an Annual Report on Form 10-K accompanied by
audited financial statements. On April 14, 2003, the Company filed a Form 8-K
with the Securities and Exchange Commission reporting the resignation of the
Company's independent auditors prior to the completion of the annual audit.
There were no disagreements between the Company and its auditors on reportable
events within the meaning of Item 304 of Regulation S-K.

There can be no assurance as to when the Nasdaq Listing Qualifications Panel
will reach its decision, or that such decision will be favorable to the Company.
An unfavorable decision would result in immediate delisting of the Company's


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securities from the Nasdaq National Market irrespective of the company's ability
to appeal the decision.

Leisure Industries is a full-service, vertically-integrated vacation solutions
provider specializing in travel and tourism packages, the development and
operation of vacation ownership resorts, marketing land for use as vacation home
sites, and providing consumer financing to purchasers of vacation ownership
interests and land parcels through its wholly owned subsidiary, Leisure Homes
Corporation. Leisure Industries is headquartered in Las Vegas, Nevada, and has
properties in Arizona, California, Nevada, New Jersey, Colorado, Florida and
Hawaii. For more information on the Leisure Industries family of companies, or
to book your dream vacation today, visit www.leisureindustries.com.

                                       ###

This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties or other factors which
may cause actual results, performance or achievements of Leisure Industries
(Mego Financial) to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. Factors
that might cause such a difference, include, but are not limited to, those
discussed in the Management's Discussion and Analysis of Financial Condition and
Results of Operations in Mego Financial's Annual Report on Form 10-KT for the
year ended December 31, 2001, and in the Form 10-Q for the quarter ended
September 30, 2002, and subsequent documents filed by Mego Financial Corp. with
the Securities and Exchange Commission.


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