U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-Sar
For Period Ended: December 31, 2002
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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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If the notification related to a portion of the filing checked above,
identify the Item(s) to which the notification relates: N/A
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Part I -- Registrant Information
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Full Name of Registrant: Microfinancial Incorporated
Former Name if Applicable: N/A
Address of Principal Executive Office: 10-M Commerce Way
Woburn, Massachusetts 01801
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Part II -- Rules 12b-25(b) and (c)
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The Registrant seeks relief pursuant to Rule 12b-25(b) because the Form 10-K
could not be timely filed without unreasonable effort or expense. The Registrant
further represents that:
[ X ] The reasons described in Part III of this form could not be
eliminated without unreasonable effort or expense;
[ X ] The subject annual report on Form 10-K will be filed on or before
the fifteenth calendar day following the prescribed due date;
[ ] The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached.
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Part III -- Narrative
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As a result of unforeseen delays in connection with the preparation of the
Registrant's annual financial statements, the Registrant is unable to file its
Annual Report on Form 10-K within the prescribed time period. The Registrant
cannot eliminate the reasons for its inability to file the foregoing Report
without unreasonable effort and/or expense. The foregoing Report will be filed
no later than the fifteenth calendar day following the prescribed due date for
the Report.
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Part IV -- Other Information
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(1) Name and telephone number of person to contact in regard to this
notification
Laura N. Wilkinson, Esq. (401) 276-6607
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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?
[ 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?
[ X ] Yes [ ] No
As noted in the Registrant's press release as filed on a Form 8-K
dated March 10, 2003, as a result of decreased originations in
fiscal 2002,preliminary revenues for the year ended December 31,
2002 decreased 18.0% to $126.8 million compared to $154.0 million
during the same period in fiscal 2001. The net loss for the year
ending December 31, 2002 was $22.1 million versus net income of
$16.3 million for the same period last year. Fully diluted
earnings per share for the year was a loss of $1.72 on 12,862,834
shares.
Microfinancial Incorporated has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.
MICROFINANCIAL INCORPORATED
Date: March 31, 2003 By: /s/ James R. Jackson, Jr.
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James R. Jackson, Jr.
Chief Financial Officer