NOTIFICATION OF LATE FILING
FORM 12b-25
SEC File Number: 1-8287
CUSIP Number: 76709420
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-KSB
FOR PERIOD ENDED: YEAR ENDED JANUARY 31, 1997
_____ 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 Form on N-SAR
For the Transition Period Ended:
Nothing in this form shall be construed to imply that the Commissions 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
RIO GRANDE, INC.
10101 Reunion Place, Suite 210
San Antonio, Texas 78216-4156
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).
X (a)The rasons described in reasonable detail in PART III of this
---- form culd not be eliminated without unreasonable effort or expense;
X (b) The subject annual report, semi-annual report, transition report
---- on Form 10-KSB, Form 20-F, 11-K, 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-KSB, 11-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).
Rio Grande, Inc. (the "Company") is not able to file its Annual Report
on Form 10-KSB for the period ended January 31, 1997 (the "Annual Report")
within the time period prescribed for such report without unreasonable effort or
expense. The Company authorized and issued three new series of Preferred Stock
in January 1997, and the Company has not yet completed its analysis of certain
accounting issues that could affect the disclosure in the Annual Report
regarding such Preferred Stock. The Company expects to complete such analysis
shortly, and will file the Annual Report within the time prescribed by Rule
12b-25.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
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Gary Scheele
(210) 308-8000, Ext. 256
(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) X Yes 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 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.
The Company's loss for the year ended January 31, 1997 will be
approximately $1.5 million as compared to $465,079 for the year ended January
31, 1996. The Company is in the process of finalizing the adjustments of
depletion and impairment of assets based on year end SEC reserve reports.
-------------------------------------------------------------
RIO GRANDE, 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: May 2, 1997
By:
Name: Gary Scheele
Title: Vice President
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.
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