UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25 SEC FILE NUMBER
0001059404
NOTIFICATION OF LATE FILING COMMISSION FILE NUMBER
000-30928
(Check One): [ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [X]Form 10-Q [ ]Form N-SAR
For Period Ended: September 30, 2000
[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: ___________________
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
PART I -- REGISTRANT INFORMATION
Full Name of Registrant:
Path 1 Network Technologies Inc.
Address of Principal Executive Office:
3636 Nobel Drive, Suite 275
San Diego, CA 92122
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(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 unreasonable effort or
expense;
(b) The subject annual report, semi-annual report, transition report
on Form 10-K, Form 20-F,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 portion thereof, could not be filed
within the prescribed time period. (Attach extra sheets if needed)
The Company could not complete the Form 10-Q within the prescribed time because
of additional time required by the Company to complete the required notes to
the financial statements and Management's Discussion and Analysis as it relates
to the disclosure of certain subsequent events.
PART IV-- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Richard B. Slansky, Chief Financial Officer (858) 450-4220
(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 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.
Excluding adjustments for stock-based compensation, the pro forma net
loss of US$1.8 million for the three-month period ended September 30,
2000 is significantly higher than the pro forma net loss of US$541,000
for the three month period ended September 30, 1999. This is
primarily due to increased expenditures for research and development
related to the Company's core technology and a build-up of the
Company's infrastructure. The greater cash resources resulted from
private placement funding effort and a strategic partnership with
Leitch Technology Corporation.
SIGNATURE
PATH 1 NETWORK TECHNOLOGIES INC. has caused this notification to be signed on
its behalf by the undersigned thereunto duly authorized.
Date: November 15, 2000 By: /s/ RICHARD B. SLANSKY
-------------------------------
Richard B. Slansky
Chief Financial Officer
