UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC File Number: 13-4031359
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 2000
-----------------
[ ] Transition Report of Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-QSB
[ ] Transition Report on Form N-SAR
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
N/A
PART I - REGISTRANT INFORMATION
Full Name of Registrant: The Financial Commerce Network, Inc.
Former Name If Applicable: N/A
Address of Principal Executive Office (Street and Number): 40 Wall Street
City, State and Zip Code: New York, New York 10005
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 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 or 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-KSB could not be filed
within the prescribed time period
Data from several outside sources that is necessary for completion of the audit
of the consolidated financial statements was not made available on a timely
basis to our new certified public accountants.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Michael Segal (212) (212) 635-9687
- -------------------------------------------------------------------------------
(Name) (Area Code) (Telephone No.)
(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 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
earning 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 volatility of the equity markets in general and the Company's trading
markets continue to affect the Company's trading and commission activity which
generated approximately $710,000 for the year ended December 31, 2000 as
compared to $979,000 during the preceding year. The Company's profitability was
further affected during the year ended December 31, 2000 by the grant of stock
options and warrants with exercise prices below the fair market value to
employees as compensation. The Company's loss exclusive of charges for stock
options and warrants decreased to approximately $2,825,000 from $4,765,000
for the preceding year.
The Financial Commerce Network, Inc.
------------------------------------
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: April 2, 2001
By: /s/ Michael S. Segal
----------------------------
Michael S. Segal
Secretary