<TABLE>
<S><C>
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
________________________
FORM 12b-25
NOTIFICATION OF LATE FILING
________________________
[ ] Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X] Form 10-QSB [ ] Form
N-SAR
For the Period Ended: March 31, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:_____________________
Nothing on 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: American Equities Income Fund, Inc.
Former Name if Applicable: N/A
Address if Principal Executive
Office (Street and Number): East 80 Route 4, Suite 202,
City, State and Zip Code: Paramus, NJ 07652
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, the following should be completed.
(Check box if appropriate.)
[ ] (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 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, 20-F, 11-K, 10-Q, N-SAR, or
the transition report or portion thereof could not be filed within the prescribed period.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this notification:
Mark F. Coldwell (914) 251-1212
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities 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 reports.
[ ] Yes [ X ] No
The Company has not filed its Annual Report on Form 10-KSB for the year ended
December 31, 1999.
(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 statement to be
included in the subject report or portion thereof?
[ ] Yes [ X ] 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.
AMERICAN EQUITIES INCOME FUND, INC.
(Exact 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, 2000 By:/S/ DAVID S. GOLDBERG
Name: David S. Goldberg
Title: Chief Executive Officer
</TABLE>
