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SEC File Number: 000-29479
CUSIP Number: 981604101
FORM 12b-25
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
NOTIFICATION OF LATE FILING
(Check One)
/ / Form 10-K and Form 10-KSB / / Form 11-K / / Form 20-F
/X/ Form 10-Q and Form 10-QSB / / Form N-SAR
For Period Ended: June 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: N/A
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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 relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: N/A
PART I - REGISTRANT INFORMATION
Full Name of Registrant: WorldWide Web NetworX Corporation
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Former name if applicable: N/A
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Address of Principal
Executive Office (Street and Number): 521 Fellowship Road, Suite 130
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Mount Laurel, New Jersey 08054
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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;
/X/ (b) The subject annual report, semi-annual report, transition
report on Form 10-K or Form 10-KSB, Form 20-F, Form 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 Form 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K or
10-KSB, 20-F, 11-K, 10-Q or 10-QSB, N-SAR or the transition report or
portion thereof, could not be filed within the prescribed time period.
The Registrant has recently devoted substantially all of its legal and
accounting resources to the evaluation and contemplation of various potential
transactions involving corporate structure, strategy, and financing. There can
be no assurance that any of the potential transactions will be consummated.
Accordingly, the Registrant is unable to file its Quarterly Report on Form 10-Q
for the quarter ended June 30, 2000, within the prescribed time period without
unreasonable effort and expense. The Registrant believes at this time that its
Form 10-Q will be filed within the grace period provided for under Rule 12b-25.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
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Allan M. Cohen (856) 914-3100
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 of 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
(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
The financial statements as of June 30, 1999 and for the nine months
then ended have been restated from those previously included in our press
release dated September 27, 1999. The restated amounts have been prepared to
conform to the audited financial statements for the year ended September 30,
1999 included in the Company's Registration Statement on Form 10. The unaudited
financial statements previously issued have been restated as follows:
a) The Company's investment of $3,036,000 in the JenCom assets was written
off as purchased research and development in the statement of
operations for the nine month period ended June 30, 1999.
b) The Company's subsidiary Entrade Inc. is consolidated in the statement
of operations for the nine month period ended June 30, 1999.
Previously, the subsidiary was reflected as an asset held for sale.
c) The Company's valuation of common stock issued in connection with the
acquisition of investments and in payment for services rendered was
adjusted to reflect its fair value on the date of issuance.
The Company expects to report a significantly larger loss from
operations for the three and nine month periods ended June 30, 2000, as compared
with the loss from operations for the three and nine month periods ended June
30, 1999. The increased loss is principally due to increased costs resulting
from the increased operations and the inclusion of our consolidated
subsidiaries.
WORLDWIDE WEB NETWORX CORPORATION
(Name of Registrant as specified in charter)
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has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 14, 2000
/s/ Gerard T. Drumm
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Gerard T. Drumm
Interim President & Chief Executive
Officer
