SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
SEC File Number 811-07341
CUSIP Number 65332Y 10 7
NOTIFICATION OF LATE FILING
(Check One):
( ) Form 10-K and Form 10-KSB ( ) Form 20-FK
( ) Form 11-K ( ) Form 10-Q and Form 10-QSB
( X ) Form N-SAR
For Period Ended: December 31, 1997
( ) 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:____________________________
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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.
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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
Full Name of Registrant
Former Name if Applicable
Nextel STRYPES Trust
______________________________________________________
Address of Principal Executive Office (Street and Number)
c/o Puglisi & Associates
850 Library Avenue
Suite 204
_______________________________________________________
City, State and Zip Code
Newark, Delaware 19715
________________________________________________________
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;
X
___ (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-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. (Attach extra sheets if needed.)
As a result of difficulties being experienced by The Bank of New York,
Administrator of the Trust (the "Administrator"), in valuing the forward
purchase contract held in the Trust's portfolio, the preparation of the
Trust's Annual Report on Form N-SAR ("Form N-SAR") for the period ended
December 31, 1997, by McGladry & Pullen, the Trust's accountants, has been
delayed somewhat. While the preparation of the Trust's annual report has
begun and is complete in all other respects, the Administrator has notified
the Trust that they expect to be able to value the forward purchase contract
within the next week or so. The forward purchase contract is the Trust's
largest asset, representing approximately 85% of the Trust's total assets.
Upon completion of the preparation of the Trust's financial statements,
the Trust's Form N-SAR will be completed and filed with the Securities and
Exchange Commission and the Trust's annual report will be completed and filed
with the Securities and Exchange Commission and distributed to shareholders
as soon as possible, but no later than Friday, March 13, 1998.
PART IV.-OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Robert J. Borzone, Jr., Esq. (212) 839-5394
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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
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.
Nextel STRYPES Trust
__________________________________________________________
(Name of registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: February 26, 1998
By: /s/ Donald J. Puglisi
Managing Trustee
