<SEC-DOCUMENT>0001140361-23-015878.txt : 20230403
<SEC-HEADER>0001140361-23-015878.hdr.sgml : 20230403
<ACCEPTANCE-DATETIME>20230403172349
ACCESSION NUMBER:		0001140361-23-015878
CONFORMED SUBMISSION TYPE:	NT 10-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221231
FILED AS OF DATE:		20230403
DATE AS OF CHANGE:		20230403
EFFECTIVENESS DATE:		20230403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BROADWAY FINANCIAL CORP \DE\
		CENTRAL INDEX KEY:			0001001171
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				954547287
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39043
		FILM NUMBER:		23793964

	BUSINESS ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
		BUSINESS PHONE:		3236341700

	MAIL ADDRESS:	
		STREET 1:		5055 WILSHIRE BLVD STE 500
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90036
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-K
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<TEXT>
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      <div style="text-align: center; text-indent: -0.7pt; margin-right: 131.05pt; margin-left: 132.45pt; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">UNITED STATES</div>
      <div style="text-align: center; text-indent: -0.7pt; margin-right: 131.05pt; margin-left: 132.45pt; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
      <div style="text-align: center; text-indent: -0.7pt; margin-right: 131.05pt; margin-left: 132.45pt; color: rgb(0, 0, 0); font-weight: bold;"> <font style="font-size: 12pt;">Washington, D.C. 20549</font></div>
      <div><br>
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      <div style="text-align: center; margin-left: 0.25pt; color: rgb(0, 0, 0); font-size: 18pt; font-weight: bold;">FORM 12b-25</div>
      <div>&#160;</div>
      <div style="text-align: center; text-indent: -0.5pt; margin-right: 131.85pt; margin-left: 132.25pt; color: rgb(0, 0, 0); font-weight: bold;">NOTIFICATION OF LATE FILING</div>
      <div>&#160;</div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">(<font style="font-style: italic;">Check One</font>): &#9746; Form 10-K &#9744; Form 20-F &#9744; Form 11-K &#9744; Form 10-Q &#9744; Form 10-D &#9744; Form N-CEN</div>
      <div style="margin-left: 37pt; color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#9744; Form N-CSR</div>
      <div style="margin-left: 37pt; color: rgb(0, 0, 0);"> <br>
      </div>
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              <td style="width: 13%; padding-bottom: 2px;" colspan="1">&#160;</td>
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                <div><font style="color: rgb(0, 0, 0);">For Period Ended:</font></div>
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              <td style="width: 35%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div><font style="color: rgb(0, 0, 0);">December 31, 2022</font></div>
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              <td style="width: 40%; padding-bottom: 2px;">&#160;</td>
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      <div style="text-indent: -0.5pt; margin-left: 85.6pt; color: rgb(0, 0, 0);">&#9744; Transition Report on Form 10-K</div>
      <div style="text-indent: -0.5pt; margin-left: 85.6pt; color: rgb(0, 0, 0);">&#9744; Transition Report on Form 20-F</div>
      <div style="text-indent: -0.5pt; margin-left: 85.6pt; color: rgb(0, 0, 0);">&#9744; Transition Report on Form 11-K</div>
      <div style="text-indent: -0.7pt; margin-left: 86pt; color: rgb(0, 0, 0);">&#9744; Transition Report on Form 10-Q</div>
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              <td style="width: 13%; padding-bottom: 2px;" colspan="1">&#160;</td>
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                <div>For the Transition Period Ended:</div>
              </td>
              <td style="width: 32%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
              </td>
              <td style="width: 34%; padding-bottom: 2px;" colspan="1">&#160;</td>
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              <div style="text-align: center; margin-right: 58.45pt; color: rgb(0, 0, 0); font-weight: bold;">Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.</div>
            </td>
          </tr>

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      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:</div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);"> <br>
      </div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">
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      <div>&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">PART I-REGISTRANT INFORMATION</div>
      <div>&#160;<br>
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              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">Broadway Financial Corporation</div>
                </td>
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              <tr>
                <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">Full Name of Registrant</div>
                </td>
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              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
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              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">N/A</div>
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              <tr>
                <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">Former Name if Applicable</div>
                </td>
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              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">4601 Wilshire Boulevard, Suite 150</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">Address of Principal Executive Office (Street and Number)</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">Los Angeles, California, 90010</div>
                </td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>
              <tr>
                <td style="width: 50%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0);">City, State and Zip Code</div>
                </td>
              </tr>

          </table>
          <div> <br>
          </div>
          <div> <br>
          </div>
          <div> <br>
          </div>
          <div> <br>
          </div>
        </div>
      </div>
      <div><br>
        &#160;&#160;&#160;&#160; <br>
      </div>
      <br>
      <div>&#160;</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div>&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;"> <br>
      </div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">
        <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"> </div>
      <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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      <div style="color: rgb(0, 0, 0); font-weight: bold;">PART II-RULES 12b-25(b) AND (c)</div>
      <div>&#160;</div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">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.)</div>
      <div>&#160;</div>
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              <div style="color: rgb(0, 0, 0);">&#9746;</div>
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              <div style="color: rgb(0, 0, 0);">(a)</div>
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            <td style="width: 89.97%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</div>
            </td>
          </tr>
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            <td style="width: 6.26%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
              <div style="color: rgb(0, 0, 0);">(b)</div>
            </td>
            <td style="width: 89.97%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN 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</div>
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          </tr>
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            <td style="width: 6.26%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0);">
              <div style="color: rgb(0, 0, 0);">(c)</div>
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            <td style="width: 89.97%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">The accountant&#8217;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</div>
            </td>
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      <div>&#160;</div>
      <div style="color: rgb(0, 0, 0); font-weight: bold;">PART III - NARRATIVE</div>
      <div>&#160;</div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time
        period.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">Broadway Financial Corporation (the &#8220;Registrant&#8221; or &#8220;we&#8221;) is unable to file, without unreasonable effort and expense, our Annual Report on Form 10-K for the
        fiscal year ended December 31, 2022 (the &#8220;2022 Form 10-K&#8221;) because of delays in preparing and providing information necessary for Moss Adams LLP, the Registrant&#8217;s independent registered public accounting firm, to complete all procedures relating to
        its audit. We expect to provide the information necessary to allow for audit completion and filing of the Form 10-K on or before the fifteenth calendar day following the due date.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0); font-style: italic; font-weight: bold;">Forward-Looking Statements</div>
      <div>&#160;</div>
      <div style="color: rgb(0, 0, 0);">This filing contains a number of forward-looking statements.&#160; Words such as &#8220;will&#8221; and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements.&#160;
        These forward-looking statements include, but are not limited to, statements regarding our beliefs and expectations relating to the filing of the 2022 Form 10-K and the results of the ongoing review.&#160; These forward-looking statements are not
        guarantees of future events or results and are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond our control.&#160; Important factors that may cause actual results to differ materially from those in the
        forward-looking statements include, but are not limited to, a material delay in the Registrant&#8217;s financial reporting, including the possibility that the Registrant will not be able to file the 2022 Form 10-K within the fifteen-day extension period
        permitted by the rules of the U.S. Securities and Exchange Commission.&#160; We disclaim and do not undertake any obligation to update or revise any forward-looking statement herein, except as required by applicable law or regulation.</div>
      <div>&#160;</div>
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      <div style="color: rgb(0, 0, 0); font-weight: bold;">PART IV - OTHER INFORMATION</div>
      <div>&#160;</div>
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            <td style="width: 8.5pt; vertical-align: top; color: rgb(0, 0, 0);">(1)</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Name and telephone number of person to contact in regard to this notification.</div>
            </td>
          </tr>

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      <div>&#160;</div>
      <div style="margin-left: 36pt;">
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              <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0);">Brenda J. Battey</div>
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              <td style="width: 2%; vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="width: 10%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0);">(323)</div>
              </td>
              <td style="width: 2%; vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
              <td style="width: 16%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0);">634-1700</div>
              </td>
            </tr>
            <tr>
              <td style="width: 20%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0);">(Name)</div>
              </td>
              <td style="width: 2%; vertical-align: top; text-align: center;">&#160;</td>
              <td style="width: 10%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0);">(Area Code)</div>
              </td>
              <td style="width: 2%; vertical-align: top; text-align: center;">&#160;</td>
              <td style="width: 16%; vertical-align: top;">
                <div style="text-align: center; color: rgb(0, 0, 0);">(Telephone Number)</div>
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      <div> <br>
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            <td style="width: 8.5pt; vertical-align: top; color: rgb(0, 0, 0);">(2)</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">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 the answer is no, identify report(s).&#160; &#160; &#9746; Yes &#9744; No</div>
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      <div>&#160;</div>
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            <td style="width: 8.5pt; vertical-align: top; color: rgb(0, 0, 0);">(3)</td>
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              <div style="color: rgb(0, 0, 0);">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?&#160; &#160; &#9746; Yes &#9744; No</div>
            </td>
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      <div>&#160;</div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">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.</div>
      <div>&#160; <br>
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      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">The Company does not anticipate any significant changes in results of operations. For information regarding the year ended December 31, 2022, the Company refers interested
        parties to the current report on Form 8-K, furnished to the Securities and Exchange Commission on February 10, 2023, which reports the Company&#8217;s preliminary estimate of financial results for the year ended December 31, 2022.</div>
      <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);"> <br>
        <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Broadway Financial Corporation</div>
        <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">
          <hr noshade="noshade" align="center" style="height: 2px; width: 30%; color: #54301A; background-color: #54301A; margin-left: auto; margin-right: auto; border: none;">&#160;(Name of Registrant as Specified in Charter)</div>
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      <div>&#160;<br>
        <div style="text-indent: -0.5pt; margin-left: 1pt; color: rgb(0, 0, 0);">has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized.</div>
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      <div>&#160;</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Date: April 3, 2023</div>
            </td>
            <td style="width: 3%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">By:</div>
            </td>
            <td rowspan="1" colspan="2" style="width: 10%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">/s/ Brenda J. Battey</div>
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          <tr>
            <td rowspan="1" style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td rowspan="1" style="width: 3%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
            <td rowspan="1" colspan="2" style="width: 10%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><br>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 37%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Brenda J. Battey</div>
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          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 3%; vertical-align: top;">&#160;</td>
            <td colspan="1" style="width: 10%; vertical-align: top;">&#160;</td>
            <td style="width: 37%; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">Executive Vice President and Chief Financial Officer</div>
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      <div style="color: rgb(0, 0, 0);">April 3, 2023</div>
      <div><font style="color: rgb(0, 0, 0);"> </font><br>
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      <div style="color: rgb(0, 0, 0);">Ms. Brenda Battey</div>
      <div style="color: rgb(0, 0, 0);">Executive Vice President and Chief Financial Officer</div>
      <div style="color: rgb(0, 0, 0);">Broadway Financial Corporation</div>
      <div style="color: rgb(0, 0, 0);">4601 Wilshire Blvd, Suite 150</div>
      <div style="color: rgb(0, 0, 0);">Los Angeles, CA 90010</div>
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      <div style="color: rgb(0, 0, 0);">Dear Ms. Battey:</div>
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      <div style="color: rgb(0, 0, 0);">You have furnished us with a copy of the &#8220;Notification of Late Filing&#8221; on Form 12b-25, dated April 3, 2023, of Broadway Financial Corporation (the &#8220;Company&#8221;).&#160; We are in agreement with the comments under Part III of
        the Form with respect to the reasons why we are unable to complete our audit on or before the date that the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 is required to be filed.</div>
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              <div>Very truly yours,</div>
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              <div>/s/ Moss Adams LLP</div>
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              <div>Moss Adams LLP</div>
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