Late Filing Notice for Executone 10-K (12/31/98)
NOTIFICATION OF LATE FILING
FORM 12b-25
SEC File Number: 0-11551
CUSIP Number: 301607
UNITED STATES
Securities and Exchange Commission
Washington, D.C. 20549
(Check One):
[X] Form 10K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: December 31, 1998
If the notification relates to a portion of the filing checked
above, identify the Item(s) to which the notification relates:
Not Applicable
PART I - REGISTRANT INFORMATION
EXECUTONE Information Systems, Inc.
Full Name of Registrant:
478 Wheelers Farms Road
Address of Principal Executive Office (Street and Number)
Milford, CT 06460
City, State and Zip Code
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 expense;
[X] (b) The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-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.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K,
11-K, 10-Q, N-SAR, or the transition report or portion thereof,
could not be filed within the prescribed time period.
On March 29, 1999, the Company announced that it has received an
offer from a group comprised of members of the current management
of the Company for the purchase of its core businesses, to
include both the computer telephony and healthcare segments.
eLottery would remain as the surviving publicly-traded entity.
The Company believes that the nature and magnitude of this
transaction will require disclosure as a subsequent event that
will not be resolved as of the normal filing date of March 31,
1999. It is expected that the negotiations for this transaction
will have progressed sufficiently by April 15, 1999 to permit
preparation of appropriate disclosure. In addition, dependent on
the success of these negotiations, the Company will need
additional time for the preparation and review of its financial
statements and relevant disclosures. Due to the uncertainties
caused by this pending decision and the impact it will have on
the Company's financial statements, the Company is unable to
assemble in a timely manner all the information required for
accurate preparation and review of its December 31, 1998 Annual
Report on Form 10-K.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification.
Edward W. Stone, Jr. (203) 882-6260
(Name) (Telephone Number)
(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 reports) been filed? If answer is no,
identify reports(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? [ ] 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.
EXECUTONE Information Systems, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 31, 1999 By: /s/ Edward W. Stone, Jr.
Name: Edward W. Stone, Jr.
Title: Senior Vice President and
Chief Financial Officer
