U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Commission File
Number 1-7258
FORM 12B-25
NOTIFICATION OF LATE FILING
(Check One):
[ ]Form 10-K and Form 10-KSB [ ]Form 11-K [ ]Form 20-F [X]Form 10-Q and
Form 10-QSB [ ] Form N-SAR
For Period Ended: September 30, 2000
[ ] 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 Attached Instruction Sheet 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.
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If the notification relates to a portion of the filing checked above,
identify the Items(s) to which the notification relates:
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PART I--REGISTRANT INFORMATION
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Full Name of Registrant: TANDYCRAFTS, INC.
Former Name if Applicable: Not Applicable
1400 Everman Parkway
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Address of Principal Executive Office (Street and Number)
Fort Worth, Texas 76140
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City, State and Zip Code
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PART II--RULES 12B-25(B) AND (C)
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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)
[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, 11-K of 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 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.
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PART III--NARRATIVE
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State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
11-K, 20-F, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
The Registrant is in negotiations with financing sources concerning
refinancing its current revolving credit facility and concerning additional
capital. The revolving credit facility was recently amended after negotiations
between the Registrant and its senior lenders. The amended facility expires
March 31, 2001, provides for a reduction of $1 million in the commitment amount
by November 30, 2000, and may require the issuance of warrants upon the
occurrence of certain events. The Registrant's management has been devoting,
and continues to devote, substantial time and attention to the negotiations with
potential financing sources concerning the refinancing of its current revolving
credit facility and additional capital, and to other corporate matters. As a
result, the Registrant's management has been delayed in completing its Quarterly
Report on Form 10-Q for the fiscal quarter ended September 30, 2000. In
particular, and not by way of limitation, this delay has prevented the
Registrant's management from completing important financial components to be
reported in the Form 10-Q, the incomplete reporting of which would materially
reduce the benefit which stockholders might derive from the Form 10-Q.
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PART IV--OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification
Michael J. Walsh (817) 551-9600
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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 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).
[ ] 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?
[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.
TANDYCRAFTS, 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: November 15, 2000 By: /s/ Michael J. Walsh
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Michael J. Walsh,
Chairman of the Board and Chief
Executive 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.
ATTACHMENT
PART IV, QUESTION 2
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The following periodic report 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 has not been filed:
Registrant has not filed an Annual Report on Form 10-K for the
period ending June 30, 2000. On September 29, 2000 the Registrant
filed a Form 12b-25 with respect to the Annual Report setting forth in
reasonable detail the reasons the Annual Report could not be filed
within the prescribed period.
PART IV, QUESTION 3
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The following is a synopsis of the significant change in results of
operations from the corresponding period for the last fiscal year that will
be reflected by the earnings statements to be included in the Registrant's
Fiscal 2000 Form 10-K.
In addition to the disclosure related to the refinance of its current
revolving credit facility, the Registrant's quarterly report on Form 10-Q for
the first quarter ended September 30, 2000 will include information concerning
its first quarter fiscal 2001 operating results. For the reasons previously
stated under Part III, the Registrant is unable at this time to report on
significant changes in the results of operations from the first quarter 2001 to
the prior period. The Registrant intends to announce operating results as soon
as available.