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: JULY 31, 2000
---------------------------------------------------------
[ ] 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:
------------------------------------------
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:
PART I
REGISTRANT INFORMATION
Full name of registrant SIGNATURE EYEWEAR, INC.
--------------------------------------------------------
Former name if applicable
--------------------------------------------------------------------------------
Address of principal executive office (STREET AND NUMBER)
498 NORTH OAK STREET
--------------------------------------------------------------------------------
City, State and Zip Code INGLEWOOD, CALIFORNIA 90302
-------------------------------------------------------
<PAGE>
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 1999
fiscal fourth quarter. Due to 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 July 31, 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
--------------------------------------------------------------------------------
(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.
Page 2
<PAGE>
SIGNATURE EYEWEAR, INC.
--------------------------------------------------------------------------------
(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date SEPTEMBER 14, 2000 By /S/ MICHAEL PRINCE
-------------------------- ---------------------------------------
Name: Michael Prince
Title: Chief Financial Officer
EXPLANATION OF
ITEM 3 OF
PART IV
Signature Eyewear, Inc. will report a net loss of approximately $900,000 to
$1,000,000 in its 2000 third quarter as compared to net income of $576,182 for
the same period in 1999. The net loss in the 2000 third quarter is primarily
attributable to significantly higher selling and general and administrative
costs and lower than anticipated gross profit. The increase in these costs
resulted from Signature's change in the manner in which its sells it products.
In the 1999 third quarter, Signature sold its products primarily through
distributors, and in the 2000 third quarter, Signature sold its products
primarily through its internal direct sales force.
Page 3
