SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12b-25 Commission File Number 0-21150 NOTIFICATION OF LATE FILING (Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q [ ] Form N-SAR For Period Ended: December 31, 2001 [ ] Transition Report on Form 10-K [ ] Transition Report on Form 11-K [ ] Transition Report on Form 20-F [ ] 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: Directrix, Inc. Former name if applicable: Address of principal executive office: 230 Pegasus Avenue Northvale, New Jersey 07647 PART II. RULE 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 appropriate box.) [ ] (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, 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; 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 Form 10-K, 11-K, 20-F, 10-Q, N-SAR or the transition report portion thereof could not be filed within the prescribed time period. Registrant has had several subsequent events including negotiations pertaining to the establishment of the Los Angeles based facility and negotiations pertaining to new sources of capital and equity financing. Time spent by management on these transactions and the determination of the impact of some of these transactions in the financial statements and disclosures in the report did not permit timely filing of the Form 10-QSB for the quarter ended December 31, 2001 without unreasonable effort and expense. <page> PART IV. OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification: Donald J. McDonald, Jr. (201) 750-8000 --------------------------- ------------------------------ (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. Directrix, Inc. -------------------------------------------- (Name of Registrant as Specified in Charter) Has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized. Date: 02/14/02 By: /s/ Donald J. McDonald, Jr. --------------------------------------------------- Donald J. McDonald, Jr., President, Director, Chief Financial Officer and Principal Accounting Officer STATEMENT TO FORM 12B-25 For the nine months ended December 31, 2001, Directrix reported a net loss of $4.7 million as compared to a net loss of $7.3 million for the corresponding period in 2000. The decrease in net loss was primarily attributable to a decrease in tranponder costs of $4.2 million and selling, general and administrtive costs of $0.6 million, offset by a decrease in revenue of $1.6 million and an increase in interest expense of $0.5 million. Also included in the net loss for the nine months ended December 31, 2001 was a transponder penalty of $4.6 million and a gain on extinguishment of transponder liability of $5.2 million. For the three months ended December 31, 2001, Directrix reported a net loss of $1.7 million as compared to a net loss of $2.4 million for the corresponding period in 2000. The decrease in net loss was primarily attributable to a decrease in tranponder costs of $1.4 million offset by a decrease in revenue of $0.7 million.