U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 12b-25

                                     0-28241
                                 SEC FILE NUMBER

                                    92922N101
                                  CUSIP NUMBER

                           NOTIFICATION OF LATE FILING

[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q and Form
10-QSB [ ] Form N-SAR

For Period Ended:  March 31, 2001

[ ]  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:

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:

Part I - Registrant Information

         Full Name of Registrant:                         Wamex Holdings Inc.
         Former Name if Applicable:                       Conchology Inc.
         Address of Principal Executive Office:           61 Broadway, Room 2805
                                                          New York, NY 10006

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;

[ ]      (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 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) No  accountant's  statement  or other  exhibit  required  by Rule
         12b-25 is required.

Part III - Narrative

         On June 14, 2000, the SEC suspended  trading in the Registrant's  stock
         citing "questions that have been raised about the accuracy and adequacy
         of publicly disseminated  information  concerning,  among other things,
         [the Registrant's] ability to comply with the Commission's  regulations
         regarding the  operation of its  Alternative  Trading  System and funds
         purportedly raised by [the Registrant] from private  investors." On the
         same day, two then officers and directors of the  Registrant,  Mitchell
         Cushing and Russell  Chimenti,  as well Roger  DeTrano,  a principal of
         Randolph Management, Inc. ("Randolph Management'),  the consulting firm
         used by the  Registrant  at that  time,  and the  Registrant's  largest
         shareholder, were arrested. Messrs. Chimenti and Cushing resigned their
         positions as officers and  directors of the  Registrant  on October 11,
         2000.

         Current  management  replaced the former  management at the time of the
         resignation. By resolution,  dated February 2, 2001, Registrant engaged
         a new auditor.  Due to circumstances,  including those described above,
         the audit  necessary  to prepare  Registrant's  Form 10-KSB will not be
         completed  until  after the time to file the subject  Form.  Registrant
         will file its Form 10-QSB for the period  ending March 31, 2001 as soon
         as  practicable  after the  completion  of the  audit,  receipt  of the
         auditor's report and an accounting for the reporting period.

Part IV - Other Information

         (1) Name and  telephone  number of person to  contact in regard to this
         notification

         Sascha Mundstein
         (212) 785-4485

         (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).

         [.]  Yes [X]  No

         The Company's Form 10-KSB for the year ending December 31, 2000 has not
         been filed for the reasons stated in Part III above.


         (3)  Is it  anticipated  that  any  significant  change  in  result  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.


         WAMEX HOLDINGS,  INC. has caused this  notification to be signed on its
behalf by the undersigned thereunto duly authorized.

May 8, 2001

WAMEX HOLDINGS, INC.


By: /s/ Sascha Mundstein
Sascha Mundstein, Chief Executive Officer