United States
Securities and Exchange Commission
Form 12b-25/A
SEC File No. 002-98997-NY
CUSIP No. 16936M106
NOTIFICATION OF LATE FILING
(Check One): [ ] 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: September 30, 2004
[ ] 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.
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PART I: - REGISTRANT INFORMATION
China Cable and Communication, Inc.
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Full Name of Registrant
Nova International Films, Inc.
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Former Name if Applicable
No. 22 Bei Xin Cun Hou Street
Xiang Shan, Haidian District
Beijing 100093, PRC
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Address of Principal Executive Office (Street and Number)
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;
(b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F, Form 11-K or Form N-SAR, or portion thereof,
[X] 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 5th calendar day after 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, 10-Q, N-SAR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
Because the Registrant's management has been spending substantial time on other
matters involving the Registrant, the Registrant's Quarterly Report on Form
10-QSB regarding the quarter ended September 30, 2004 could not be timely filed
without unreasonable effort or expense.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Yau-Sing Tang (852) 2591 1221
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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 reports(s) been filed? If answer is no,
identity report(s)
[X] Yes [ ] No
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(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.
*Except as described below, the Registrant does not anticipate any significant
changes in results of operations from the corresponding period for the last
fiscal year, other than those which may result solely from the consolidation of
the Registrant's financial statements with those of its subsidiary.
Three months ended September 30, 2004 and 2003
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Interest income (expenses), net
Interest expenses, net for the three months ended September 30, 2004 was
$95,633, as compared to other income, net of $542 for the same corresponding
period in 2003. The significant change primarily resulted from the interest on
debt of $95,904 owing to the preferred stockholders. The interest was accrued at
$888 per day for the period from June 14, 2004, the date of the serving the
notice of redemption, to September 30, 2004.
Other income (expenses), net
Other expenses, net for the three months ended September 30, 2004 was
$69,358, as compared to the zero balance for the corresponding period in 2003.
The significant change was primarily because of the reverse of the recovery of
the amount due from a related company of $69,507, which was previously recorded
in the six months ended June 30, 2004.
Nine months ended September 30, 2004 and 2003
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Merger costs
For the nine months ended September 30, 2004, the Company reported no
merger costs whereas for the corresponding period in 2003, the Company incurred
merger costs of $3,770,416 as a result of the reverse merger taken place in
2003.
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Interest income (expenses), net
Interest expenses, net for the nine months ended September 30, 2004 were
$95,301, as compared to other income, net of $867 for the corresponding period
in 2003. The significant change primarily resulted from the interest on debt of
$95,904 owing to the preferred stockholders. The interest was accrued at $888
per day for the period from June 14, 2004, the date of the serving the notice of
redemption, to September 30, 2004.
Other income, net
Other income, net for the nine months ended September 30, 2004 was $8,155,
as compared to the negative balance of $121 for the corresponding period in
2003. The significant change was primarily caused by the inclusion of
programming income of $7,831 charged to other Baoding network operators in 2004.
There was no such income in the corresponding period of 2003.
Loss on extinguishment of debt.
For the nine months ended September 30, 2004, the Company recorded a loss
on extinguishment of debt of $1,174,183. This represented the premium recognized
on the Preferred Stock requested by its holders to be redeemed by the Company.
Deemed dividends
For the nine months ended September 30, 2004, the Company recorded deemed
dividends of $60,289 on its redeemable convertible preferred stock. Because the
preferred stock was issued by the Company on September 24, 2003, there were no
deemed dividends for the corresponding period in 2003.
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CHINA CABLE AND COMMUNICATION, INC.
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Name of Registrant as Specified in Charter
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 16, 2004 By: /s/ Yau-Sing Tang
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Name: Yau-Sing Tang
Title: Chief Financial Officer
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