SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File No. 1-11976
[x] Form 10-K and Form 10-KSB [ ] Form 11-K [ ] Form
20-F [ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1999
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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 Item(s) to which the notification relates:
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Part I - Registrant Information
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Full Name of Registrant: Unapix Entertainment, Inc.
Former Name, if Applicable:
Address of Principal Executive Office: 200 Madison Avenue.
City, State and Zip Code: New York, New York 10016
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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;
[x] (b) The subject annual report on Form 10-K will be filed on or before
the fifteenth calendar day following the prescribed due date; and
[ ] (c) The accountants 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 the Form 10-K, 10-KSB, 11-K,
20-F, 10-Q or 10-QSB or portion thereof could not be filed within the
prescribed time period.
The Company is unable to file its annual report on Form 10-K for the year
ended December 31, 1999 within the period prescribed by the regulations under
the Securities and Exchange Act of 1934 due to a delay in the compilation of
information required in the report due to a recent turnover in accounting
personnel.
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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
information:
(Name) (Area Code) (Telephone Number)
Cheryl Freeman 818 981-8592
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(2) Have all other periodic reports required (under Section 13 or 15(d) of
the Securities Act of 1934) during the preceding 12 months (or for such
shorter period that the registrant was required to file such reports)
been filed? [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.
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UNAPIX ENTERTAINMENT, INC. - Financial Highlights
(IN THOUSANDS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED YEAR ENDED
DEC. 31 DEC. 31
1999 1998 1999 1998
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Revenue $10,314 $10,868 $41,862 $36,481
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Operating Income Before Unusual Items 88 578 1,521 609
Non-Recurring - (200) - (333)
Debt Conversion Expense (148) - (1,418) -
Litigation Settlement Costs (510) - (510) -
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Income Before Taxes and
Extraordinary Item (570) 378 (407) 276
Provision for Tax (65) 201 545(A) 166
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Income Before Extraordinary Item (505) 177 (952) 110
Extraordinary Item, Net - - (714) -
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Net Income (Loss) $ (505) $ 177 $(1,666) $ 110
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Per Common Share - Basic and Diluted
Income Before Extraordinary Item $ (.06) $ .01 $ (.16) $ (.01)
Extraordinary Item - - (.09) -
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$ (.06) $ .01 $ (.25) $ (.01)
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Average Shares
Basic 10,243 7,521 8,293 6,783
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Diluted 10,243 7,567 8,293 6,783
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(A) Tax provision reflects non-deductibility of $1,418,000 debt conversion
expense.
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Unapix Entertainment, 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: March 31, 2000 By: /s/ Cheryl A. Freeman
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Cheryl A. Freeman
Chief Financial Officer