U.S SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
NOTIFICATION OF LATE FILING
FORM 12b-25
Sec. File Number 0-9624 Cusip Number 460491 80 6
-----------------------------------------------------------
[Check One]
[ X ] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ]Form 10-Q [ ] Form N-SAR
For the Period Ended: June 30, 1996
----------------------
[ ] Transition Report on Form 10-KSB
[ ] 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 _________________________
Read Instructions [on back page] Before Preparing Form.
Please Print or Type
Nothing in this form shall be constructed 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:
- --------------------------------------------------------------------------------
PART I - REGISTRANT INFORMATION
Full Name of Registrant INTERNATIONAL THOROUGHBRED BREEDERS, INC.
Former Name if Applicable
Address of Principal Executive Office [Street and Number]
HADDONFIELD ROAD AND ROUTE 70 City, State and Zip Code CHERRY HILL, NEW JERSEY
08034 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]
[a] The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expenses;
[ X ] [b] The subject annual report, semi-annual report, transition
report on Form 10-KSB, Form 2-F, Form 11-K, 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.
<PAGE>
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 20-F, 11-K, 10-Q
or N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
SEE ATTACHED
PART IV - OTHER INFORMATION
[1] Name and telephone number of person to contact in regard to
this notification
William Warner 609 488-3625
[Name] [Area Code] [Telephone No.]
[2] Have all other periodic reports required under Section 13 or 15[d]
of the Securities and 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 reports] 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? SEE ATTACHED [ 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.
INTERNATIONAL THOROUGHBRED BREEDERS, 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 27, 1996 By:/s/ William Warner
------------------------------------ ------------------
William Warner,
Principal Financial 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.
ATTENTION
Intentional misstatements or omissions of fact constitute
Federal Criminal Violation [See 18 U.S.C. 1001]
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 [17 CFR 240.12b-25] of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3
of the General Rules and Regulations under the Act. The information
contained in or filed with the form will be made a matter of the public
record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities
of the registrant is registered.
4 Amendments to the notifications must also be filed on form 12b-25, but
need not restate information that has been correctly furnished. The form
shall be clearly identified as an amendment notification.
<PAGE>
INTERNATIONAL THOROUGHBRED BREEDERS, INC.
FORM 12B-25
FORM 10-K FOR PERIOD ENDED JUNE 30, 1996
PART III - NARRATIVE
During the fiscal year ended June 30, 1996, the Registrant experienced extensive
management changes and made a major investment in a Las Vegas project which
resulted in the completion of several fairly complicated financial transactions.
As a result, the Registrant is unable to complete the preparation of the Form
10-K report for filing on a timely basis.
PART IV - OTHER INFORMATION
(3) For the fiscal year ended June 30, 1995, the Registrant reported net income
of $2,398,452. For the fiscal year ended June 30, 1996, the Registrant
anticipates reporting a net loss in the range of $1,000,000 to $2,000,000.
<PAGE>
