----------------------------
OMBAPPROVAL
----------------------------
OMB Number: 3235-0058
Expires: March 31, 2006
Estimated average burden
hours per response . . 2.50
----------------------------
SEC FILE NUMBER
1-13925
----------------------------
CUSIP NUMBER
158711101
----------------------------
UNITED STATES
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 / / Form N-CSR
For Period Ended: December 31, 2003
/ / 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:
----------------------------------
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
Championship Auto Racing Teams, Inc.
--------------------------------------------------------------------------------
Full Name of Registrant
--------------------------------------------------------------------------------
Former Name if Applicable
5350 Lakeview Parkway South Drive
--------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Indianapolis, IN 46268
--------------------------------------------------------------------------------
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) 8
(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, 2003 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. BECAUSE THE FINANCIAL STATEMENTS ARE AN INTEGRAL PART OF THE FORM 10-K,
THE REGISTRANT IS UNABLE TO COMPLETE THE FORM 10-K BY THE PRESCRIBED DUE DATE.
PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF
SEC 1344 (07-03) INFORMATION CONTAINED IN THIS FORM ARE NOT
REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A
CURRENTLY VALID OMB 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
--------------------------------------------------------------------------------
(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.
================================================================================
Championship Auto Racing Teams, Inc.
(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, 2004 By /S/ THOMAS L. CARTER
-----------------------------
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).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-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 (Section232.201 or Section232.202 of this
chapter) or apply for an adjustment in filing date pursuant to Rule 13(b)
of Regulation S-T (Section232.13(b) of this chapter).
2