UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
COMMISSION FILE NUMBER 001-16123
(Check One):
|X| Form 10-K and Form 10-KSB |_| Form 11-K |_| Form N-SAR |_| Form 10-D
|_| Form 10-Q and Form 10-QSB |_| Form 20-F |_| Form N-CSR
For Period Ended: DECEMBER 31, 2005
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
Full Name of Registrant: NEWTEK BUSINESS SERVICES, INC.
Former Name if Applicable: NEWTEK CAPITAL, INC.
Address of Principal Executive Office (Street Number):462 Seventh Avenue,
14th floor,
City, State and Zip Code: New York, NY 10018
Federal ID Number: 11-3504630
PART II
RULE 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 appropriate box.)
|X| (a) The reasons 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 date; and
PART III
NARRATIVE
State below in reasonable detail the reasons why the Form 10-K could not
be filed within the prescribed time period.
The Registrant has been unable to complete prior to March 31, 2006 the
compilation of all information required for the completion of its financial
statements and management's discussion and analysis required in Form 10-K. The
delay results principally from the significant demands on the Registrant's
finance and accounting staffs due to the necessity to complete the review and
accounting for the 62 separate investments made by the Registrant's fifteen
subsidiary certified capital companies. Included in this review process is the
extensive analysis required under FIN 46 "Consolidation of Variable Interest
Entities" to determine if an investment should be accounted for under the
consolidated method of accounting.
Due to the reasons described above, the Registrant cannot timely file
its Form 10-K for the year ended December 31, 2005 without unreasonable effort
or expense but will do so within fifteen days of the required due date.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Barry Sloane 212 356-9500
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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 during the preceding 12 months or for such
shorter period that the registrant was required to file such report (s)
been filed? If the answer is no, identify report (s):
|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?
|_| Yes |X| No
NEWTEK BUSINESS SERVICES, 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
thereunto duly authorized.
Date: March 31, 2006 By: /s/ Barry Sloane
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Name: Barry Sloane
Title: Chairman and Chief
Executive Officer
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