UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SEC FILE NUMBER
Form 12b-25 0-7261
NOTIFICATION OF LATE FILING CUSIP NUMBER
159420 20 7
(Check One): |_|Form 10-K |_|Form 20-F |_|Form 11-K |X|Form 10-Q |_|Form N-SAR
For Period Ended: September 30, 2001
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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 Instructions (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.
lf the notification relates to a portion of the filing checked above, identify
the item (s) to which the notification relates:
PART I - - REGISTRANT INFORMATION
Chaparral Resources, Inc.
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Full Name of Registrant
Former Name if Applicable
16945 Northchase Drive, Suite 1620
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Address of Principal Executive Office (Street and Number)
Houston, TX 77060
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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 reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[X] (b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, l l-K, or Form N-SAR, or portion
thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report of 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 the reasons why the Form 10-K, l l-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period, (Attach Extra Sheets if Needed)
See attached
PART IV - - OTHER INFORMATION
(l) Name and telephone number of person to contact in regard to this
notification
Michael B. Young 281 877-7100
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or l5(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).
|X| Yes |_| No
(3) If it is anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by
the earnings statement to be included in the subject report or portion
thereof?
|X| Yes |_| No
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.
See attached
Chaparral Resources, 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 November 15, 2001 By /s/ Michael B. Young
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Treasurer & Controller
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).
ATTACHMENT PAGE TO FORM 12b-25
CHAPARRAL RESOURCES, INC.
PART III - NARRATIVE
Registrant owns an interest in oil and gas properties in a foreign country
through a subsidiary, which has a 50% interest in a foreign entity that owns the
interest in the oil and gas properties. The Registrant has been advised that
delays have been encountered in completing the financial information for such
entities. Therefore, the Registrant is unable to obtain the required financial
information for the quarter ended September 30, 2001, in order for the
Registrant's Quarterly Report on Form 10-Q to be filed within the prescribed
time period.
PART IV - OTHER INFORMATION
(3) Registrant expects to report a net loss between $1,400,000 and $1,600,000
for the three months ended September 30, 2001, and reported a net loss of
$23,114,000 for the three months ended September 30, 2000. The decrease in
the loss was primarily due to the September 2000 conversion of $20,846,000
in aggregate principal amount of the Company's 8% Non-Negotiable
Convertible Promissory Notes ("Notes"), plus accrued interest, into
11,690,259 shares of the Company's common stock at an exercise price of
$1.86 per share. Applying EITF 98-5, Accounting for Convertible Securities
with Beneficial Conversion Features or Contingently Adjustable Conversion
Ratios, the Company recorded additional debt discount upon conversion of
the Notes equal to the face value of the Notes, less original discount, or
$20,340,000. The additional discount was expensed immediately upon
discharge of the underlying indebtedness. Otherwise, the Company's overall
loss decreased from the prior year due to increased equity income from
investment based upon revenues generated from the sale of hydrocarbons from
the Karakuduk Field.