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, 1998
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Part 1. Registrant Information
AMERICAN INTERNATIONAL PETROLEUM CORPORATION
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(Full name of registrant)
444 Madison Avenue, Suite 3203, New York, NY 10022
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(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, 1998, 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 31,
1999.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Denis J. Fitzpatrick (212)688-3333
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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?
[ ] Yes [x] No
AMERICAN INTERNATIONAL PETROLEUM CORPORATION
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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, 1998 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).
Hein + Associates, LLP
5075 Westheimer
Suite 970
Houston, Texas 77056
March 31, 1999
Mr. Denis Fitzpatrick
American International Petroleum Corporation
55 Waugh Drive, Suite 606
Houston, Texas 77007
Dear Mr. Fitzpatrick:
You have furnished us with a copy of your "Notification of Late Filing" on Form
12b-25, dated March 31, 1999.
We are in agreement with the comments under Part III of the Form 12b-25 with
respect to the reasons why we are unable to furnish our report on the
consolidated financial statements of American International Petroleum
Corporation and its subsidiaries on or before the date the Form 10-K of American
International Petroleum Corporation of the year ended December 31, 1998 is
required to be filed.
Your very truly,
/s/ Hein + Associates, LLP
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Hein + Associates, LLP