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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File No: 0-20179
(Check One):
XX Form 10-K Form 20-F Form 11-K Form 10-Q Form N-SAR
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FOR PERIOD ENDED: SEPTEMBER 30, 1997
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[ ] 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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Read Instruction (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:
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PART I - REGISTRANT INFORMATION
RECYCLING INDUSTRIES, INC.
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Full Name of Registrant
N/A
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Former Name if Applicable
9780 SOUTH MERIDIAN BOULEVARD, SUITE 180
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Address of Principal Executive Office (Street and Number)
ENGLEWOOD, COLORADO 80112
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City, State and Zip Code
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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, 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 of 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, Form 20-F, Form
11-K, Form 10-Q, Form N-SAR, or the transition report or portion thereof, could
not be filed within the prescribed time period. (ATTACH EXTRA SHEETS IF
NEEDED.)
On December 5, 1997 and December 8, 1997, the Registrant completed
six material acquisitions and $200 million of financing. These
events were reported by the Registrant on a Form 8-K filed December
22, 1997. Because of the personnel time required to complete these
transactions and the Form 8-K, the Registrant's staff was unable to,
at the same time, complete and file the Form 10-K.
PART IV - OTHER INFORMATION
Name and telephone number of person to contact in regard to this
notification:
Brian L. Klemsz, Chief Financial Officer (303) 790-7372
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(Name) (Area Code) (Telephone Number)
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(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.
Recycling Industries, 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
hereunto duly authorized.
Date: December 29, 1997 By /s/ Brian L. Klemsz
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Brian L. Klemsz, 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.
ATTENTION
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
VIOLATIONS (SEE 18 U.S.C. 1001).
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PART IV - CONTINUED
Due to the acquisition of two additional scrap metals processing
facilities during fiscal 1997 and the costs related thereto, the Registrant
will incur a significant change in results of operations from the prior year.
Estimated revenues and income (loss) from operations for Fiscal 1997 compared
to Fiscal 1996 are as follows:
For the year ended
September 30,
(thousands of dollars)
1997 1996
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(Unaudited)
Revenues $62,424 $27,619
Income (loss)
from operations $1,400 $(2,294)
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