SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number = 0-14905
NOTIFICATION OF LATE FILING OF FORM 10-K
For the Period Ended: December 31, 1999
Part 1. Registrant Information
AMERICAN INTERNATIONAL PETROLEUM CORPORATION
(Full name of registrant)
2950 North Loop West, Suite 1000, Houston, TX 77092
(Address of Principal executive office)
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 appropriate box.)
[x] (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 on Form 10-K will be filed on or before the
15th calendar day following the prescribed due date; and
[x] (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 could not be
filed within the prescribed time period:
Developments subsequent to the end of the Registrant's fiscal year ended
December 31, 1999, have caused the Registrant to incur delays in the completion
of its financial statements for such fiscal year and other disclosures required
by Form 10-K. Consequently, the Registrant's Independent Auditors are unable to
furnish their required opinion on or before March 30, 2000.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Denis J. Fitzpatrick (713) 802-0087
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(Name) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of
the Securities Exchange Act of 1934 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.
During the last fiscal year, the Company incurred significant increases in
non-cash costs associated with the issuance of debt which, when coupled with a
corresponding decline in revenues during the last fiscal year, is expected to
result in a significant increase in the Company's net loss for the year-ended
December 31, 1999, as compared to the corresponding period in 1998.
AMERICAN INTERNATIONAL PETROLEUM CORPORATION
(Name of registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: March 30, 2000 By: /s/ Denis J. Fitzpatrick
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Title: Chief Financial Officer
Instruction: The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. 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 omission of fact constitute Federal criminal
violations (see 18 U.S.C. 1001).