SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Commission File Number 0-23001
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ X ] Form 10-Q [ ] Form N-SAR
For Period Ended: APRIL 30, 2000
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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:
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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 Item(s) to which the notification relates:
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PART I
REGISTRANT INFORMATION
Full name of registrant SIGNATURE EYEWEAR, INC.
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Former name if applicable
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Address of principal executive office (STREET AND NUMBER)
498 NORTH OAK STREET
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City, State and Zip Code INGLEWOOD, CALIFORNIA 90302
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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.)
(a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or
expense;
[XX] (b) The subject annual report, semi-annual report, transition report
on Form 10-KSB, 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-KSB, 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.)
Signature Eyewear, Inc. installed new computer hardware and computer
software, including accounting and financial reporting software in its 199
fiscal fourth quarter. Due to technical difficulties with the software,
Signature Eyewear is unable, without unreasonable effort and expense, to file
timely its Quarterly Report on Form 10-Q for the quarter ended April 30, 2000,
as it has been unable to compile and reconcile the financial information
necessary to complete its unaudited financial statements for the period.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
MICHAEL PRINCE 310 330-2700
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(Name) (Area Code) (Telephone number)
(2) Have all other periodic reports required under Sections 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).
[ ] Yes [XX] No
The registrant did not file on a timely basis its Form 10-K for the fiscal
year ended October 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 statements to be included in the subject report or portion thereof?
[XX] 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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SIGNATURE EYEWEAR, 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 JUNE 14, 2000 By /S/ MICHAEL PRINCE
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Name: Michael Prince
Title: Chief Financial Officer
EXPLANATION OF
ITEM 3 OF
PART IV
Signature Eyewear, Inc. will report a material net loss of approximately
$2,469,000 in its 2000 second quarter as compared to net income of approximately
$756,000 for the same period in 1999. The material net loss in the 2000 second
quarter is primarily attributable to significantly higher selling and general
and administrative costs that were incurred in anticipation of a higher than
achieved level of net sales. The increase in these costs resulted from
Signature's change in the manner in which its sells it products. In the 1999
second quarter, Signature sold its products primarily through distributors, and
in the 2000 second quarter, Signature sold its products primarily through its
internal direct sales force.
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