SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Commission File Number 0-23001
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ ] Form 10-Q [ ] Form N-SAR
For Period Ended: OCTOBER 31, 1999
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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: ITEMS 1, 6, 7, 7A, 8 AND
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PORTIONS OF 14
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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 fiscal
fourth quarter. Due to technical difficulties with the software, Signature
Eyewear is unable, without unreasonable effort and expense, to file timely its
Annual Report on Form 10-K for the fiscal year ended October 31, 1999 as it has
been unable to compile the financial information necessary to complete its
audited financial statements for the year.
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).
[XX] 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?
[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 JANUARY 31, 2000 By /S/ JULIE HELDMAN
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Name: Julie Heldman
Title: President
EXPLANATION OF
ITEM 3 OF
PART IV
Signature Eyewear, Inc. incurred certain significant, non-recurring costs
and product returns in the fiscal fourth quarter in connection with Signature's
change from selling products in the United State primarily through distributors
to selling products primarily through its own direct sales force. These costs
include, among others, those relating to the implementation of new computer
hardware and computer software required to support the direct sales force and
additional personnel costs due to the addition of sales representatives and
support personnel. Signature also experienced a reduction in sales due to
additional product returns from former distributors and a decrease in net sales
to former distributors in the fiscal fourth quarter. As a result of these costs
and reductions in sales, Signature expects that its operating results for the
1999 fourth quarter and 1999 fiscal year will be significantly lower than the
operating results reported for the corresponding periods in 1998. For the
reasons set forth in Part III of this Form 12b-25, Signature is unable to
quantify these 1999 operating results.
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