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U. S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING SEC File Number:
0-27996
CUSIP Number:
071326-10-2
(Check one:)
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For Period Ended: March 31, 2000
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[ ] 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: Not applicable
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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: Not applicable
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PART I--REGISTRANT INFORMATION
Wireless Xcessories Group, Inc.
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Full Name of Registrant
Batteries Batteries, Inc.
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Former Name if Applicable
1840 County Line Road
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Address of Principal Executive Office (Street and Number)
Huntingdon Valley, PA 19006
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City, State and Zip Code
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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;
[X] (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, will be filed on or before the fifteenth
calendar day following the prescribed due date; or the subject
quarterly 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 the Form 10-K, Form 20-F, Form
11-K, Form 10-Q or Form N-SAR, or the transition report, or portion thereof,
could not be filed within the prescribed period. (Attach Extra Sheets if Needed)
This extension is required due to difficulty experienced by the Company
in obtaining updated financial statement information and to delays in processing
changes to the Form 10-Q necessitated by such updated information. The Form 10-Q
is being filed one day late.
PART IV--OTHER INFORMATION
(l) Name and telephone number of person to contact in regard to this
notification
Justin P. Klein 215 864-8606
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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).
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[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.
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Wireless Xcessories Group, 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
hereunto duly authorized.
Date: May 16, 2000 By: /s/ Ronald E. Badke
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Ronald E. Badke
Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).
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Wireless Xcessories Group, Inc. - Form 10-Q for the period ended March 31, 2000
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Part IV(3) Explanation:
The Company's net sales increased by $1.0 million or 16%, from $6.1 million in
the three months ended March 31, 1999 ("1999") to $7.1 million in the three
months ended March 31, 2000 ("2000"). The increase in sales is mainly
attributable to the Company's subsidiary Advanced Fox Antenna, Inc. ("Advanced
Fox") who registered an increase of approximately $860,000 or 19% over the same
period in 1999. Advanced Fox achieved this increase by continuing its expansion
of its customer base through aggressive selling and marketing strategies, which
resulted in higher product sales volume. In addition, AccessorySolutions.com,
Inc., another subsidiary of the Company, contributed approximately $160,000 of
sales for the current quarter (its business started up late in the third quarter
of 1999), while the net sales of the Company's subsidiary Cliffco of Tampa Bay,
Inc. in 2000 decreased by a small amount (less than 2%) as compared to its net
sales in 1999.
Gross profit increased by $.04 million from $3.2 million in 1999 to $3.6 million
in 2000 and gross profit as a percentage of sales decreased from 52.2% to 50.1%.
The decrease in gross profit percentage was a result of added expenses due to
more incentives given to customers in the form of expanded volume incentives and
more specialized and customized services to attract new customers and expand
current business to offset lower average unit selling prices and aggressive
competition.
Selling, general and administrative (SG&A) expenses increased from $2,342,000 in
1999 to $3,194,000 in 2000. As a percentage of sales, SG&A expenses increased
from 38.1% in 1999 to 44.7% in 2000. The increase in SG&A was attributable to
costs of $160,000 at AccessorySolutions.com, Inc. in 2000 and an increase of
approximately $600,000 at Advanced Fox in marketing, selling, and distribution
costs to support the current and anticipated sales growth.
See the Company's Form 10-Q which was filed immediately prior to this Form
12b-25.
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