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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One) [X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q
[ ] Form N-SAR
For Period Ended March 31, 2001
[ ] 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 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: Not applicable
PART I
REGISTRANT INFORMATION
Full Name of Registrant: RVM Industries, Inc.
Former Name if Applicable: Not Applicable
Address of Principal Executive Office (street and number): 753 West Waterloo
Road
City, State and Zip Code: Akron, Ohio 44314-1519
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 Rule12b-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, 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
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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 the Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed period. (Attach extra sheets if needed.)
The registrant has worked diligently to prepare its annual report on Form 10-K
for its fiscal year ended March 31, 2001, but it has been unable to complete the
report by the prescribed filing date, June 29, 2001, because of heavy demands
placed upon its financial management and other executive- level personnel by the
increasingly urgent need to secure financing. This pursuit has occupied
virtually all available time for the past several months. The Form 10-K will be
filed no later than July 14, 2001, a date within the prescribed 15 calendar day
limit following the prescribed due date..
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
James R. McCourt 330 753-4545
(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 reports) 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
(4) 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.
RVM INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: June 29, 2001 By: /s/ James R. McCourt
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James R. McCourt
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PART IV, SECTION (4) STATEMENT
The registrant's Net Sales for Fiscal Year 2001 were $61,869,583, a decrease of
32.7% from Fiscal Year 2000 of $91,986,494. Net Loss for Fiscal Year 2001
increased to $(4,244,526) from Fiscal Year 2000 Net Loss of $(535,451). The
decreases in net sales were a result from the severe retraction in both the
truck trailer market and the aluminum extrusion market. Per the Bureau of
Census, overall truck trailer shipments from manufacturers in calendar year 2000
decreased by 20.1% with fourth quarter shipments lower than the prior fourth
quarter by 34.1%. Industry analysts expect the market to remain at this low
level of production through calendar year 2001. Albex, a subsidiary of the
registrant, serves the truck trailer market with aluminum extrusion and, as a
result, experienced similar decrease in sales.
The net loss increase resulted from the loss gross profit not being generated
from the decreased net sales and the registrant's inability to reduce operating
cost as fast as volume decreased. In addition the registrant has not complied
with certain bank covenants, which has resulted in a request from its lenders
that the registrant secure replacement financing. The registrant has not yet
been able to secure replacement financing. As a result, the audit report will
set forth a going concern qualification.