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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): /X/ Form 10-K / / Form 11-K / / Form 20-F / / Form 10-Q
/ / Form N-SAR
For Period Ended: December 31, 1999
/ / Transition Report on Form 10-K / / Transition Report on Form 10-Q
/ / Transition Report on Form 20-F / / Transition Report on Form N-SAR
/ / Transition Report on Form 11-K
For the Transition Period Ended:
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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
IGI, Inc.
Wheat Road and Lincoln Avenue
Buena, NJ 08310-0687
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 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, 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
portion thereof will be filed on or before the fifth calendar day following
the prescribed due date; and
/ / (c) The accountant's statement of 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, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period.
IGI, Inc. (the "Company") has received verbal confirmation that it will
receive waivers of noncompliance under certain covenants under some of its
credit facility agreements, or amendments to such documents, from both of its
lenders. The Company was assured, and therefore anticipated receiving, these
waivers/amendments before March 30, 2000 and prepared the presentation of its
financial statements under that assumption. However, the Company has not
received such waivers and/or amendments as of the filing of this Form 12b-25 and
could not change the presentation of its financial statements before the March
30 filing deadline without unreasonable effort and expense. The Company
anticipates receiving such waivers/amendments within the next week.
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PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Manfred Hanuschek (856) 697-1441
(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 preceding 12 months or for such shorter period that the
registrant was required to file such reports been filed? If the answer is no,
identify report(s). / X / Yes / / No
(3) Is it anticipated that any significant change in results of operation
from the corresponding period for the last fiscal year will be reflected by the
earning statements to be included in the subject report or portion thereof?
/ / Yes / X / 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.
IGI, Inc.
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: March 30, 2000 By: /s/ Manfred Hanuschek
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Manfred Hanuschek
Chief Financial Officer
