Ft. Lauderdale, Fla.-based NationsRent announced on May 16 that it notified the Securities and Exchange Commission that it cannot file its first quarter financial results on time.
The company reports that its accounting and financial staff has been primarily engaged in dealing with matters related to its bankruptcy, and, with its financial advisors, has been formulating a detailed business plan that will form the basis of a reorganization plan.
According to NationsRent, the filing of documents with the bankruptcy court and the delay in the court's approval of its independent auditor until April 2, are reasons for the delay.
The company's financial statements for the year ended Dec. 31, 2001, are being completed and audited now, company officials said. The preparation and review of NationsRent's financial statements for the quarter ended March 31, 2002, also have been delayed.