U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(CHECK ONE):
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[X] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: MARCH 31, 1998
[ ] Transition Report on Form 10-K
[ ] 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:
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Nothing in this Form shall be construed to imply that the
Commission has verified any information contained herein.
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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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KFP 85-LTD.
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Full Name of Registrant (Former Name if Applicable)
ONE S.E. THIRD AVENUE, 11TH FLOOR
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Address of Principal Executive Office (Street and Number)
MIAMI, FLORIDA 33131
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City, State and Zip Code
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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;
[ ] (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 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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THE PARTNERSHIP'S INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS HAVE NOT COMPLETED
THEIR AUDIT OF THE 1997 CALENDAR YEAR AND FORM 10-K HAS NOT YET BEEN FILED.
UNTIL THE 1997 YEAR END HAS BEEN COMPLETED, THE QUARTER ENDED 3/31/98 CAN NOT BE
FINALIZED. IT IS EXPECTED THAT FORM 10-K WILL BE FILED BY 5/14/98 AND FORM 10-Q
FOR THE FIRST QUARTER OF 1998 WILL BE FILED BY 5/22/98.
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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
TIMOTHY D. PAPPAS 305 371-3592
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(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).
[ ] Yes [X] No FORM 10-K 1997
(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.
KFP 85-LTD.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: MAY 12, 1998 By: /s/ TIMOTHY D. PAPPAS
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Name: TIMOTHY D. PAPPAS
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Title: PRINCIPAL ACCOUNTING OFFICER
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