SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 1-14478
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [ X ] Form 10-Q
and Form 10-KSB and Form 10-QSB
[ ] Form N-SAR
For Period Ended: Not Applicable
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: Not Applicable
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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.
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
Full Name of Registrant: Room Plus, Inc.
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Former Name if applicable: Not Applicable
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Address of Principal Executive Office (Street and number): 91 Michigan Avenue
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City, State and Zip Code: Paterson, New Jersey 07503
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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 reasonable 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.
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PART III
NARRATIVE
State below in reasonable detail the reasons why the Form 10-QSB could
not be filed within the prescribed time period.
In connection with the preparation of its financial statements for
the three months and nine months ended September 30, 1998, the
Company has determined that it will be necessary to revise its
financial statements for the prior two fiscal quarters in order to
make adjustments to its reported closing inventory and cost of goods
sold for such periods and to related line items on such financial
statements, the calculation of which are based thereon. Any
adjustments in the prior numbers will affect the numbers for this
quarter. The Company is currently making the necessary adjustments
with its independent accountants and anticipates that it will be able
to file its Form 10-QSB for the nine months ended September 30, 1998
by the close of business today, and, shall shortly thereafter file
amendments to its previously filed Forms 10-QSB for the three months
ended March 31, 1998 and for the six months ended June 30, 1998.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Jay H. Goldberg, Chief Financial Officer (973) 523-4600
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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.
ROOM PLUS, 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 17, 1998 By: /s/ Jay H. Goldberg
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Jay H. Goldberg, Chief Financial Officer
ATTENTION
Intentional misstatements or omissions of fact constitute Federal criminal
violations (see 18 U.S.C. 1001).
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PART IV - Item (3)
Explanation of the anticipated change in results of operations from the
corresponding period for the last fiscal year.
Results of operations are anticipated to be as follows:
Nine Months Ended September 30,
1998 1997
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Anticipated Actual
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Revenues $14,228,450 $12,145,971
Costs of goods sold 5,954,324 5,029,014
Selling expenses 7,072,458 7,017,136
General and administrative expenses 1,535,325 2,253,829
Loss from operations (333,657) (2,154,008)
Net loss (321,675) (1,231,489)
Net loss per share (.07) (.28)
For the nine months ending September 30, 1998, revenues increased
approximately 17% from revenues for the comparative quarter in the previous
fiscal year. The increase in cost of goods sold was primarily the result of the
increase in revenues. The decrease in selling, general and administrative
expenses was primarily the result of reduced advertising expenses, professional
fees and certain store operating costs.
