SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
Notification of Late Filing
Commission File Number 0-2642
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(Check one): |X| Form 10-K and Form 10-KSB |_| Form 11-K
|_| Form 20-F |_| Form 10-Q and Form 10-QSB |_| Form N-SAR
For period ended December 31, 1995
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|_| Transition Report on Form 10-K and Form 10-KSB
|_| Transition Report on Form 20-F
|_| Transition Report on Form 11-K
|_| Transition Report on Form 10-Q and Form 10-QSB
|_| 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.
If the notification relates to a portion of the filing checked above,
identify the item(s) to which the notification relates:
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PART I
REGISTRANT INFORMATION
Full name of registrant DE TOMASO INDUSTRIES, INC.
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Former name if applicable
P.O. Box 856, 107 Monmouth Street
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Address of principal executive office (Street and Number)
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City, State and Zip Code Red Bank, NJ 07701
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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 appropriate box.)
|_| (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 Forms 10-K, 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, 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 Forms 10-K, 10-KSB,
11-K, 20-F, 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.)
Registrant will not be able to make a timely filing of its annual report
on Form 10-K for the year 1995 because the audit of its financial results is not
yet completed. Registrant believes that such audit will be completed and its
1995 Form 10-K will be filed on or before April 12, 1996. The reasons for the
delay are as follows: (a) the acquisition in July 1995 of the operating
subsidiaries of Finprogetti S.p.A. and the acquisition of Lita S.p.A., requiring
the audit of eight additional subsidiaries; (b) the need to obtain additional
current appraisals to support balance sheet valuations of certain assets
acquired; and (c) the organization and staffing of a Milan-based office of the
Registrant's Chief Financial Officer.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in
regard to this notification.
Howard E. Chase, Esq. 212 735-8679
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(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or
15(d) or 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
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.
The Company expects to report a net loss for 1995 which will be
approximately 50% larger than in 1994 due largely to costs incurred in the third
quarter of 1995 from the purchase of the principal assets of Finprogetti S.p.A.
and the redemption of a portion of the shares formally held by the Company's
former Chairman. A more detailed estimate of the results of operations cannot be
made until the audited financial statements are completed.
DE TOMASO INDUSTRIES, 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 April 1, 1996 By s/ Howard E. Chase
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Howard E. Chase,
President and Chief Executive
Officer
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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.
ATTENTION
Intentional misstatements or omissions of fact constitute
Federal criminal violations (see 18 U.S.C. 1001).
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