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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-24073
CUSIP NUMBER
44923E-10-1
(Check One): [X]Form 10-K [ ]Form 11-K [ ]Form 20-F [ ]Form 10-Q
[ ]Form N-SAR
For Period Ended: DECEMBER 31, 2000
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[ ] 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:
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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: NOT APPLICABLE
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PART I
REGISTRANT INFORMATION
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Full Name of Registrant IBS INTERACTIVE, INC.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
400 N. ASHLEY STREET, SUITE 2600
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City, State and Zip Code TAMPA, FLORIDA 33602
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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, semi-annual report, transition
report on Form 10-K, Form 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;
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof could not be filed within the
prescribed period. (Attach extra sheets if necessary.)
IBS INTERACTIVE, INC. (THE "COMPANY") RECENTLY RELOCATED ITS CORPORATE
HEADQUARTERS, INCLUDING ITS ACCOUNTING DEPARTMENT, FROM CEDAR KNOLLS, NEW JERSEY
TO TAMPA, FLORIDA AND CHANGED ITS CHIEF FINANCIAL OFFICER. IN ADDITION, THE
COMPANY HAS RECENTLY UNDERTAKEN CAPITAL RAISING EFFORTS TO ADDRESS ANY POTENTIAL
ISSUES REGARDING THE COMPANY'S ABILITY TO CONTINUE AS A GOING CONCERN. BECAUSE
OF THE HEAVY DEMANDS PLACED ON THE COMPANY'S MANAGEMENT AND ACCOUNTING PERSONNEL
IN CONNECTION WITH THE FOREGOING EFFORTS, THE COMPANY CANNOT COMPLETE ITS
FINANCIAL STATEMENTS AND PREPARE ITS FORM 10-KSB IN A TIMELY MANNER WITHOUT
UNREASONABLE EXPENSE OR EFFORT. THE COMPANY EXPECTS THAT IT WILL FILE ITS FORM
10-KSB NO LATER THAN THE 15TH CALENDAR DAY FOLLOWING THE PRESCRIBED DUE DATE OF
SUCH FORM 10-KSB.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
KAREN SURPLUS (813)221-0024
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(Name) (Area Code) (Telephone Number)
(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 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.
AS COMPARED TO THE YEAR ENDED DECEMBER 31, 1999, THE COMPANY
ANTICIPATES THE FOLLOWING MATERIAL CHANGES (ESTIMATED) AT
DECEMBER 31, 2000 AND FOR THE YEAR THEN ENDING:
THE COMPANY'S NET LOSS FOR THE YEAR ENDED DECEMBER 31, 2000
WAS APPROXIMATELY $18 MILLION COMPARED TO $12 MILLION FOR THE
PRIOR YEAR. THIS INCLUDED A LOSS ON DISPOSAL OF DISCONTINUED
OPERATIONS AND DISCONTINUED OPERATION LOSSES TOTALING
APPROXIMATELY $4.4 MILLION, A MERGER EXPENSE OF $0.8 MILLION
RELATED TO THE POTENTIAL MERGER WITH INFONAUTICS THAT DIDN'T
OCCUR, A CHARGE RELATED TO SEVERANCE AND RESTRUCTURING
INCLUDING OFFICE CLOSINGS, IMPAIRMENT OF PROPERTY AND
EQUIPMENT PRIMARILY RELATED TO ASSETS USED BY SEVERED
EMPLOYEES AND OTHER COSTS PRIMARILY RELATED TO LEASES TOTALING
APPROXIMATELY $2.2 MILLION.
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IBS INTERACTIVE, INC.
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(Name of Registrant as specified in its charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date April 2, 2001 By: /s/ Karen L. Surplus
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