UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12B-25 NOTIFICATION OF LATE FILING SEC FILE NUMBER: 000-32989 CUSIP NUMBER: 059361-10-5 (Check One): Form 10-K [X] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR [ ] For Period Ended: June 30, 2003 [ ] Transition Report on Form 10-K [ ] Transition Report on Form 20-F [ ] Transition Report on Form 11-K [ ] Transition Report on Form 10-Q [ ] Transition Report on Form N-SAR For the Transition Period Ended: ___________________ If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates: PART I -- REGISTRANT INFORMATION BAM! Entertainment, Inc. - --------------------------------------------------------- Full Name of Registrant N/A - --------------------------------------------------------- Former Name if Applicable: 333 West Santa Clara Street, Suite 716 - --------------------------------------------------------- Address of Principal Executive Office (Street and Number) San Jose, California 95113 - --------------------------------------------------------- City, State and Zip Code 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) (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 fifteenth calendar day following the prescribed due date; or the subject quarterly report of 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 Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, or the transition report portion thereof, could not be filed within the prescribed time period. The Registrant could not review and complete its Annual Report on Form 10-K without incurring unreasonable effort and expense in connection with accurately preparing and presenting all necessary disclosures. The Registrant will file its Annual Report on Form 10-K as soon as possible, and in any event no later than the fifteenth calendar day following the prescribed due date for such report. PART IV -- OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification Stephen Ambler (408) 298-7500 -------------- ----- -------- (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 answer is no, identify report(s). Yes [X] 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 [ ] 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. Please see the Registrant's Consolidated Statements of Operations for the years ended June 30, 2003, 2002 and 2001 attached hereto as Exhibit A for a comparison of results of operations for the last fiscal year and the previous fiscal year. BAM! Entertainment, Inc. ------------------------------------- (Name of Registrant as Specified in Charter) has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 29, 2003 By: /s/ Stephen Ambler ------------------------------- Name: Stephen Ambler Title: Chief Financial Officer EXHIBIT A BAM! ENTERTAINMENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (UNAUDITED) YEAR ENDED JUNE 30, ------------------- 2003 2002 2001 ---- ---- ---- Net revenues ........................................ $ 35,708 $ 50,734 $ 25,351 Costs and expenses: Cost of revenues Cost of goods sold .............................. 23,124 29,826 14,827 Royalties, software costs, and license costs .... 18,739 12,101 2,898 Project abandonment costs ....................... 9,600 693 -- -------- -------- -------- Total cost of revenues .......................... 51,463 42,620 17,725 Research and development (exclusive of amortization of deferred stock compensation) .... 2,912 2,519 1,073 Sales and marketing (exclusive of amortization of deferred stock compensation) .... 9,220 11,473 4,292 General and administrative (exclusive of amortization of deferred stock compensation) .... 7,164 6,293 1,996 Amortization of deferred stock compensation* ...... 418 1,223 618 Restructuring costs ............................... 426 -- -- -------- -------- -------- Total costs and expenses ...................... 71,603 64,128 25,704 -------- -------- -------- Loss from operations ................................ (35,895) (13,394) (353) Interest income ................................... 148 328 58 Interest expense .................................. (597) (2,569) (1,325) Other income (expense) ............................ 151 (38) 18 -------- -------- -------- Net loss ............................................ (36,193) (15,673) (1,602) Redeemable convertible preferred stock dividend ... -- -- (5,540) -------- -------- -------- Net loss attributable to common stockholders ........ $(36,193) $(15,673) $ (7,142) ======== ======== ======== Net loss: Basic and diluted ................................. $ (2.47) $ (1.65) $ (4.82) ======== ======== ======== Shares used in computation: Basic and diluted ................................. 14,654 9,503 1,482 ======== ======== ======== *Amortization of deferred stock compensation: Research and development .......................... $ (25) $ 126 $ 72 Sales and marketing ............................... (7) 70 28 General and administrative ........................ 450 1,027 518 -------- -------- -------- $ 418 $ 1,223 $ 618 ======== ======== ========