UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25 - NOTIFICATION OF LATE FILING
Commission File Number: 000-26925
Cusip Number: 46114Q108
(check one)
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For the period ended: September 30, 2000
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[ ] 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:
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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.
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If the notification related to a portion of the filing checked above, identify
the item(s) to which notification relates:
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PART I - REGISTRANT INFORMATION
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Full name of Registrant: InterWorld Corporation
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Former name if Applicable:
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Address of Principal Executive Office (Street and Number): 395 Hudson Street
6th Floor
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City, State and Zip Code: New York, NY 10014-3669
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PART II - RULE 12b-25(b) and (c)
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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 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
of Forms 10-K, 10-KSB, 20-F, 11-K or Form N-SAR, or portion
[X] 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, 10-QSB, 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.
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PART III - NARRATIVE
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State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
10-QSB, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach Extra Sheets if Needed)
InterWorld Corporation ("InterWorld") is unable to timely file it's Quarterly
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Report on Form 10-Q for the period ended September 30, 2000 without unreasonable
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effort or expense due to the time commitment required by InterWorld to finalize
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the Preferred Stock Transaction completed on November 10, 2000 with Jackpot
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Enterprises (which is being renamed J Net Enterprises, Inc.), as disclosed on
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InterWorld's Form 8-K filed on October 19, 2000.
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PART IV - OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification:
Doug Maio (212) 301-2772
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(Name) (Area Code) (Telephone Number)
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(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 the
answer is no, identify report(s). [X] Yes [ ] No
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(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.
For the third quarter, InterWorld will report total revenues of $14.6 million, a
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38% increase from the $10.6 million in revenues for the same period in 1999.
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InterWorld will record a net loss for the third quarter of 2000 of $14.0
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million, or a loss of $0.48 per share compared with a net loss of 8.5 million,
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or a loss per share of $0.40 in the third quarter of 1999. Third quarter license
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revenues were $5.9 million and services revenues were $8.7 million.
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InterWorld Corporation
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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: November 14, 2000
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By: /s/ Michael Donahue
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Michael Donahue
Chairman, President and Chief Executive Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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