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OMB APPROVAL
UNITED STATES --------------------------------
SECURITIES AND EXCHANGE COMMISSION OMB NUMBER: 3235-0058
WASHINGTON, D.C. 20549 EXPIRES: MARCH 31, 2006
ESTIMATED AVERAGE BURDEN
FORM 12B-25 HOURS PER RESPONSE . . . . 2 .50
NOTIFICATION OF LATE FILING ================================
SEC FILE NUMBER
1-13925
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CUSIP NUMBER
158711101
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(Check one): [X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q
[ ] Form N-SAR [ ] Form N-CSR
For Period Ended: December 31, 2004
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[ ] 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 the Transition Period Ended:
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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.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
Championship Auto Racing Teams, Inc.
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Full Name of Registrant
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Former Name if Applicable
5350 Lakeview Parkway South Drive
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Address of Principal Executive Office (Street and Number)
Indianapolis, IN 46268
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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)
(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
[X] 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 why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
THE REGISTRANT HAS BEEN UNABLE TO COMPLETE ITS FINANCIAL STATEMENTS FOR THE YEAR
ENDED DECEMBER 31, 2004 WITHOUT UNREASONABLE EFFORT AND EXPENSE DUE PRIMARILY TO
THE FACT THAT ITS PRIMARY OPERATING SUBSIDIARY, CART, INC., FILED FOR PROTECTION
UNDER THE U.S. BANKRUPTCY ACT IN DECEMBER 2003 AND COMPLETED THE SALE OF
SUBSTANTIALLY ALL THE ASSETS OF CART, INC., WHICH WAS APPROVED ON FEBRUARY 2,
2004. THE BANKRUPTCY HAS BEEN COMPLETED AND THE ASSETS AND LIABILITIES HAVE BEEN
TRANSFERRED TO A LIQUIDATING TRUST. THE REGISTRANT'S FINANCIAL STATEMENTS
INCLUDE A PRESENTATION ON THE LIQUIDATING TRUST AND THIS HAS NOT BEEN COMPLETED
DUE TO VARIOUS ISSUES AND, THEREFORE, THE REGISTRANT IS UNABLE TO COMPLETE THE
FORM 10-K BY THE PRESCRIBED DUE DATE.
PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF
INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO
SEC 1344 (07-03) RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID
0MB CONTROL NUMBER
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Jack A. Bjerke 614 462-4760
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(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 [X] 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 [ ]
AS A RESULT OF THE DISPOSITION BY THE COMPANY'S SUBSIDIARY, CART, INC.,
OF SUBSTANTIALLY ALL OF ITS ASSETS AND THE SALE OF OTHER ASSETS BY THE
COMPANY DURING FEBRUARY 2004, THE RESULTS OF OPERATIONS FOR THE LAST
FISCAL YEAR WILL BE SIGNIFICANTLY DIFFERENT THAN THE RESULTS OF
OPERATIONS FOR THE PRIOR FISCAL YEAR WHEN TAKING INTO CONSIDERATION THE
CLOSING OF THE TRANSACTIONS IN FEBRUARY 2004. THEREFORE, A REASONABLE
ESTIMATE OF THE RESULTS CANNOT BE MADE BY THE COMPANY UNTIL THE
FINANCIAL STATEMENTS HAVE BEEN COMPLETED.
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.
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Championship Auto Racing Teams, Inc.
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(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 31, 2005 By /s/ Thomas L. Carter
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Thomas L. Carter, Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
----------------------------------- ATTENTION ----------------------------------
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
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GENERAL INSTRUCTIONS
1. This form is required by Rule 1 2b-25 (17 CFR 240.12b-25) of the
General Rules and Regulations under the Securities Exchange Act of
1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, D.C. 20549, in accordance with Rule
0-3 of the General Rules and Regulations under the Act. The information
contained in or filed with the form will be made a matter of public
record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but
need not restate information that has been correctly furnished. The
form shall be clearly identified as an amended notification.
5. Electronic Filers: This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties.
Filers unable to submit reports within the time period prescribed due
to difficulties in electronic filing should comply with either Rule 201
or Rule 202 of Regulation S-T (Section 232.201 or Section 232.202 of
this chapter) or apply for an adjustment in filing date pursuant to
Rule 13(b) of Regulation S-T (Section 232.13(b) of this chapter).