U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ]Form 10-K; [ ]Form 20-F; [ ]Form 11-K; [X]Form 10-Q; [ ]Form N-SAR
For Period Ended: September 30, 2000
[ ]Transition Report on Form 10-K
[ ]Transition Report on Form 20-F SEC FILE NUMBER
[ ]Transition Report on Form 11-K 0-8301
[ ]Transition Report on Form 10-Q
[ ]Transition Report on Form N-SAR
For the Transition Period Ended: __________________________________
________________________________________________________________________
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
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Full Name of Registrant: Golden Triangle Industries, Inc.
Former Name if Applicable:
Address of Principal Executive
Office (Street and Number): 257 Plaza Drive, Suite D
City, State & Zip Code Oviedo, FL 32765
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Part II--Rules 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)
[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, semiannual report, transition
report on Form 10-K, Form 20-F, 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 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 Form 10-K, 20-F, 11-K,
10-Q, N-SAR or the transition report or portion thereof could not be filed
within the prescribed time period. (Attach Extra Sheets if Needed)
In June 2000, the Company completed the approval process of acquiring
Whitemark Homes, Inc. out of Florida along with the disposition of certain
assets in exchange for preferred stock held by the Company's former
President. In regard to that transactioin and the reporting thereof on
Form 10-Q for the quarter ended June 30, 2000, the Company has received
a comment letter from the staff of the SEC date November 9, 2000. In
reviewing that letter and the considerations that it presents, the Company
will be required to make siginificant changes in its presentation of the
financial data of the new direction and business of the Company. Due to the
significant changes contemplated in the comment letter, the Company is in
the process of filing the 3rd quarter financial statements, answering the
comment letter, and amending the 10-Q filing for the 2nd quarter. Due to
the signfificance of these endeavors and the impact they will have on the
presentation of the financial information, we will be delayed in filing the
Form 10-Q.
Current analysis of the timing of completion of the financial statements
indicates that the Company will file its form 10-Q within the five day
extension period provided through this notification.
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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: Robert Early (915) 691-5790
(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
(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.
GOLDEN TRIANGLE INDUSTRIES, INC. has caused this notification to be signed
on its behalf by the undersigned thereunto duly authorized.
Date: September 15, 2000 By: /s/ Robert B. Early
Robert B. Early
Chief 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.
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Significant changes in presentation and results anticipated in the 10-Q.
Based on our review of the comment letter and underlying accounting
literature, we are revising our reporting of the merger between Whitemark
Homes, Inc, and Golden Triangle Industries, Inc. to reflect the transaction
as a reverse acquisition. As such, the financial statements of Whitemark
Homes will become the historical and continuing financial statements and
those of Golden Triangle will be treated as the acquired entity.
Very truly yours,
Robert B. Early
CFO
