SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-23111
NOTIFICATION OF LATE FILING
(Check One): [_] Form 10-K [_] Form 11-K [_] Form 20-F [X] Form 10-QSB
[_] Form N-SAR
For Period Ended: March 31, 2002
[_] 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:______________________________________
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: ________________________
PART I
REGISTRANT INFORMATION
Full name of registrant: A NOVO BROADBAND, INC.
Former name if applicable: CABLE LINK, INC.
________________________________________________________________________________
Address of principal executive office (Street and number)
196 Quigley Boulevard
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City, state and zip code
New Castle, Delaware 19720
________________________________________________________________________________
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 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, 20-F, 11-K or 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 Form 10-QSB, 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 why the Form 10-K, 11-K, 20-F 10-QSB,
N-SAR or the transition report portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
An extension of time to prepare and submit Registrant's Report on Form
10-QSB is being requested because refinancing of the Registrant's bank debt and
restructuring of its debt owed to an affiliate are currently in process and the
imminent outcome of the refinancing and restructuring will have a material
impact on the report; accordingly management could not prepare and file the Form
10-QSB without unreasonable effort or expense.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
William Kelly (302) 322-6088
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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 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.
The Company's sales for the second quarter of 2002 increased 25% to
$5.0 million, as compared to $4.0 million for the second quarter of 2001. The
Company focused its business more on the repair of set top boxes and increased
its efforts to provide logistics services to its customers, and its revenue from
these sources increased in the second quarter of 2002 from the corresponding
quarter of 2001. Sales from the Company's now-discontinued international and
domestic distribution activities and brokerage sales decreased, due to both
decreased demand and the termination of these activities mid-way through the
quarter. As the Company has now discontinued its brokerage and distribution
activities, the Company expects no further revenues from these sources.
Cost of goods sold was 94% of sales in the second quarter of fiscal
2002, compared to 73% in the 2001 quarter. The overall cost of goods sold
increased as a percentage of revenues as a result of the overall reduction in
combined revenues from brokerage and distribution services, and the low margins
resulting from liquidation of the associated inventories. The Company also
continued to incur increased labor expense (recognized in cost of goods sold)
associated with increases in repair capacity which was not fully utilized during
the current period.
Operating expenses increased 64% in the second quarter of 2002 to $2.3
million, as compared to $1.4 million in the second quarter of the prior year.
The increase reflected certain non-recurring items.
A NOVO BROADBAND, 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 May 15, 2002 By /s/ William Kelly
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William Kelly
Chief Executive Officer