UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One)
[]Form 10-K []Form 20-F []Form 11-K [X]Form 10-Q []Form N-SAR
For Period Ended: January 31, 1997
[]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 Transition Period Ended: ________________________
Read Attached Instruction Sheet 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, identity the Item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
SPEC'S MUSIC, INC.
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Full Name of Registrant
N/A
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Former Name if Applicable
1666 N.W. 82ND AVENUE
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Address of Principal Executive Office (Street and Number)
MIAMI, FLORIDA 33126
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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 the
he 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, 11-L 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 Form 10-K and
Form 10KSB, 20-F, 11-K 10-Q and Form 10-QSB, N-SAR, or the
transition report or portion thereof could not be filed within
the prescribed period.
SEE ATTACHED
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<PAGE>
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
KATHLEEN L. DEUTSCH, P.A. (305) 373-9431
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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).
[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.
SEE ATTACHED
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SPEC'S MUSIC, 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 thereunto duly authorized.
Date March 17, 1997 By Donald A. Molta
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Title Vice President and CFO
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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 representatives'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).
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 the 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 amended notification.
5. Electronic Filers. This form shall not be used by
electronic filers unable to timely file a report solely due
to electronic difficulties. Filers unable to submit a
report within the time period prescribed due to difficulties
in electronic filing should comply with either Rule 201 or
Rule 202 of Regulation S-T or apply for an adjustment in
filing date pursuant to Rule 13(b) of Regulation S-T.
<PAGE>
ATTACHMENT TO SEC FORM 12b-25 - NOTIFICATION OF LATE FILING
PART III - NARRATIVE
The Company's management has been devoting its efforts
toward several recent business developments, including the
restructuring of its core business and the acquisition of DS
Latino. As a result, the Company has been unable to prepare and
file its Form 10-Q within the prescribed time period.
PART IV - OTHER INFORMATION
(3) The Company's net loss for the quarter ended January 31,
1997 was approximately $(370,000), or $(.07) per share, compared
to a net profit of $424,000, or $.08 per share, for the quarter
ended January 31, 1996. For the six month period ended January
31, 1997, the net loss was $(1,192,000), or $(.23) per share,
compared to $(581,000), or $(.11) per share, for the first six
months of fiscal 1996. The decline in net income is primarily
due to reduced sales and lower gross margins resulting from
continued competition.
