NT 10-K 1 w32067nt10vk.htm FORM 12B-25 nt10vk
 

     
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  SEC FILE NUMBER  
 
0-19657
 
     
  CUSIP NUMBER  
 
872636105
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
           
(Check one):   þ  Form 10-K o  Form 20-F o  Form 11-K o  Form 10-Q o  Form 10-D o  Form N-SAR o  Form N-CSR
 
         
 
  For Period Ended:   December 31, 2006
 
     
 
         
    o   Transition Report on Form 10-K  
 
         
    o   Transition Report on Form 20-F  
 
         
    o   Transition Report on Form 11-K  
 
         
    o   Transition Report on Form 10-Q  
 
         
    o   Transition Report on Form N-SAR  
 
         
 
  For the Transition Period Ended:   Not applicable  
 
       

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.
If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:
PART I — REGISTRANT INFORMATION
TRM Corporation
 
Full Name of Registrant
N/A
 
Former Name if Applicable
5208 N.E. 122nd Avenue
 
Address of Principal Executive Office (Street and Number)
Portland, Oregon 97230-1074
 
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)
           
þ
    (a)   The reason 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 20-F, Form 11-K, Form N-SAR 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 d ate; 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 why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
The Company requires additional time to file its annual report on Form 10-K in order for the Company to complete its financial statements for the year ended December 31, 2006. In November 2006 the Company and its lenders agreed to substantial modifications to the Company’s loan agreements. In January 2007 the Company sold four of its business segments accounting for over 45% of its total assets and 55% of its net sales. Additional time is required because of the complexity of determining the proper accounting for the modification of debt and issues relating to the business dispositions subsequent to year-end.
SEC 1344 (03-05)   Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 


 

(Attach extra Sheets if Needed)
PART IV — OTHER INFORMATION
(1)   Name and telephone number of person to contact in regard to this notification
         
Jeffrey F. Brotman, President and Chief Executive Officer    (215)    832-0074 
(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 report(s) been filed? If answer is no, identify report(s).
    Yes þ     No o
 
   
 
(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 þ     No o
 
   
 
 
    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’s results of operations for the year ended December 31, 2006 will change significantly from the year ended December 31, 2005. For the year ended December 31, 2005, the Company reported a net loss of $8.9 million. For the nine months ended September 30, 2006, the Company reported a net loss of $104.9 million, including impairment charges of $96.1 million. The Company expects to report higher net losses for the year ended December 31, 2006 than for the first nine months of the year. 
 
TRM Corporation
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
             
Date
  March 16, 2007   By   /s/ Jeffrey F. Brotman
 
           
            Jeffrey F. Brotman
President and Chief Executive Officer