SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
Commission File Number 000-24999
NOTIFICATION OF LATE FILING
(Check one):
(X) Form 10-K ( ) Form 11-K ( ) Form 20-F ( ) Form 10-Q ( ) Form N-SAR
For period ended June 30, 2000
( ) Transition Report on Form 10-K ( ) Transition Report on Form 10-Q
( ) Transition Report on Form 20-F ( ) Transition Report on Form N-SAR
( ) Transition Report on Form 11-K
For the transition period ended ___________________________________________
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.
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
Full name of registrant LOTUS PACIFIC, INC.
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Former name if applicable
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Address of principal executive office (Street and Number)
200 Centennial Avenue, Suite 201
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City, State and Zip Code Piscataway, New Jersey 08854
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PART II
RULE 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, 20-F, 11-K or Form N-SAR, or portion thereof will
be filed on or before the 15th 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.
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)
The Registrant is unable to file its Form 10-K for the year ended June 30,
2000 within the prescribed time period without unreasonable expense and effort
due to its inability to complete the audit of its financial statements within
such time. The Registrant has been unable to complete such audit because two
of its subsidiaries are currently being separately audited for the first time
by new auditors in anticipation of proposed public offerings by such
subsidiaries of their securities, and the audits of such subsidiaries have not
yet been completed. Contributing to the delay is the fact that the audits of
the Registrant on the one hand and the two subsidiaries on the other hand are
being conducted by different independent auditors.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Mr. Jeremy Wang (732) 885-0100
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) or
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). (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 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.
The Registrant anticipates that both the revenues received and the losses
incurred in its fiscal year ended June 30, 2000 ("Fiscal 2000") will be greater
than the revenues received and the losses incurred in its fiscal year ended
June 30, 1999 ("Fiscal 1999") due to an increase in sales and operating
expenses and amortization and depreciation costs resulting from Registrant's
acquisitions of ARESCOM Inc. and TurboNet Communications in the third quarter
of Fiscal 1999. Additional information is needed for the Registrant to estimate
the exact amount of the loss for Fiscal 2000.
LOTUS PACIFIC, 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 September 28, 2000 By /s/ Jeremy Wang
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Jeremy Wang, 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.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal criminal
violations (see 18 U.S.C. 1001).