REALMARK PROPERTY INVESTORS LTD PARTNERSHIP III
NT 10-Q, 1998-11-16
REAL ESTATE INVESTMENT TRUSTS
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                                  UNITED STATES
                                                                                
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                                                                                
                                   FORM 12b-25
                                                                                
                           NOTIFICATION OF LATE FILING

   |_| Form 10-KSB |_| Form 20-F |_| Form 11-K |X| Form 10-QSB |_| Form N-SAR   
                                                                                
                                                                                

     For Period Ended: September 30, 1998
                       ------------------                                       

     [ ] Transition Report on Form 10-KSB
     [ ] Transition Report on Form 20-F
     [ ] Transition Report on Form 11-K
     [ ] Transition Report on Form 10-QSB
     [ ] Transition Report on Form N-SAR

     For the Transition Period Ended: _________________________________________


               REALMARK PROPERTY INVESTORS LIMITED PARTERSHIP III
             (Exact Name of Registrant as specified in its Charter)


      Delaware              0-13331                       16-1234990
- --------------------  ---------------------    --------------------------------
(State of Formation)  (Commission File No.)    (IRS Employer Identification No.)


                             2350 North Forest Road
                                   Suite 12-A
                           Getzville, New York 14068
                    (Address of Principal Executive Office)

Registrant's Telephone Number:    (716) 636-0280

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
             Form 10-KSB, 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-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.


<PAGE>

PART III -- NARRATIVE

         State below in reasonable detail why the Form 10-KSB, Form 20-F, Form
10-QSB, Form N-SAR, or the transition report or portion thereof, could not be
filed within the prescribed time period.

         Additional time is required to complete financial statements accurately
and correctly.


PART IV--OTHER INFORMATION
                                                                         
(1) Name and telephone number of person to contact in regard to this 
    notification

    Gregory J. Altman                 (716)                    636-9090
    -----------------              -----------             ------------------
        (Name)                     (Area Code)             (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 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 statement to be included in the subject report or portion thereof?
    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.   |_| Yes  |X| No



<PAGE>

              REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP III
              ---------------------------------------------------
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned 
hereunto duly authorized.


By: /s/ Joseph M. Jayson                               November 16, 1998
    --------------------                               -----------------
    Joseph M. Jayson                                          Date
    Individual General Partner


Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed by the following persons on behalf of the registrant and in the 
capacities and on the dates indicated.


By:   REALMARK PROPERTIES, INC.
      Corporate General Partner

      /s/ Joseph M. Jayson                             November 16, 1998
      --------------------                             -----------------
      Joseph M. Jayson,                                       Date
      President and Director


      /s/ Michael J. Colmerauer                        November 16, 1998
      -------------------------                        -----------------
      Michael J. Colmerauer,                                  Date
      Secretary




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