UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 September 30, 1999
__ Transition Report on Form 10-K and Form 10-KSB
__ Transition Report on Form 20-F
__ Transition Report on Form 11-K
__ Transition Report on Form 10-Q and Form 10-QSB
__ Transition Report on Form N-SAR
For the Transition Period Ended:_______________
Read Instructions (on back page) 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:
PART I--REGISTRANT INFORMATION
Full Name of Registrant: ELECTRONIC BUSINESS SERVICES, INC.
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Former Name of Registrant (if applicable): @ebs, inc.
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Address of Principal Executive Office (Street and Number):
1800 NW 49TH STREET, FORT LAUDERDALE, FL 33309
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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)
[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, 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.
|
|
PART III--NARRATIVE
State below in reasonable detail the reasons why the Forms 10-K, 10-KSB, 20-F,
11-K, 10-Q, 10-QSB, N-SAR, or the transition report or portion thereof, could
not be filed within the prescribed time period. (Attach Extra Sheets if Needed)
The Company has not been able to compile the requisite financial data necessary
to enable it to have sufficient time to complete the Company's Quarterly Report
on Form 10-QSB by November 15, 1999, the required filing date, without
unreasonable effort and expense.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Harold S. Fischer 954 229-5100
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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 reports) been
filed? If 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.
It is anticipated that significant change in the results of the Company's
operations from the corresponding period for the last fiscal year will be
reported including the following:
Sales for the three months ended September 30, 1999 were approximately
$1,475,475 or a decrease of 33% from the $2,216,989 in sales for the period
ended September 30, 1998. The decrease in sales is due to several factors
including a significant rise in mortgage interest rates which reduced the sales
of credit reports associated with home refinances, continued consolidation
within the Company's wholesale credit client base, and a resistance of clients
to install new software applications in light of Year 2000 compliance
priorities. The loss from operations for the quarter ending September 30, 1999
was $1,384,870, which represents a difference of $750,763 from the income from
the loss from operations of $634,107 for the quarter ending September 30, 1998
for the reasons as stated above. Net income was $(1,402,505) for the period
ending September 30, 1999, compared to $(860,249) for the same period in 1998.
At September 30, 1999, the Company had working capital of $(2,273,835) as
compared to working capital of $533,846 at September 30, 1998.
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ELECTRONIC BUSINESS SERVICES, INC.
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(Name of Registrant as Specified In Charter)
has caused this notification to be signed on its behalf by the undersigned
hereto duly authorized
Dated: November 15, 1999 ELECTRONIC BUSINESS SERVICES, INC.
By:/s/ HAROLD S. FISCHER
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HAROLD S. FISCHER
President
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.
ATTENTION
INTENTION MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25 of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, D.C. 20549, in accordance with Rule
0-3 of the General Rules and Regulations under the Act. The information
contained in or filed with the form will be made a matter of public
record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but
need not restate information that has been correctly furnished. The
form shall be clearly identified as an amendment notification.
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