UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
[X] Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-QSB
For Period Ended: December 31, 1996 SEC FILE NUMBER I-9418
----------------- CUSIP NUMBER 232456103
[ ] 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 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: Entire Form 10-KSB
Part I - Registrant Information
Full Name of Registrant CyberAmerica Corporation
Former Name if Applicable N/A
Address of Principal Executive Office:
268 West 400 South, Suite 300
Salt Lake City, Utah 84101
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)
(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 From 10-K, Form 2-F, 11-F, or From 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 From 10-Q, or portion thereof will be filed
on or before the fifth calendar day following the prescribed due
date; and
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(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-KSB, 11-K,
20-F, 10-QSB or N-SAR or portion thereof could not be filed within the
prescribed time period.
During the forth fiscal quarter of 1996, the Company received
a notice of resignation from its chief financial officer and
primary accountant. This event resulted in changes in changes
with respect to the personnel and policies of the Company's
accounting department. These changes delayed the completion of
the Company's audit and could not have been avoided by the
Company without unreasonable effort or expense. The Company
also reduced its staff from approximately 75 individuals to
approximately 35 individuals in an effort to reduce expenses
and improve its financial condition. This significant
reduction in the number of employees, including substantial
changes to the Company's accounting department, further
delayed the preparation of the year-end financial statements.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Richard Surber President (801) 575-8073
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(Name) (Title) (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 12 months or for
such shorter period that the registrant was required to file
such report(s) been filed? If the answer if 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
narrative and quantitatively, and, if appropriate, state the
reasons why a reasonable estimate of the results cannot be
made - Corporate offices and management changes.
The Company is projecting that it will record a net loss of
approximately $1,800,000 for the fiscal year ended December
31, 1996 as compared to a net loss of $418,729 of the previous
year. The main factor contributing to this change is the
increase in general and administrative expenses incurred by
the Company during the last half of fiscal 1996. This increase
is largely attributable to the Company's purchase of equipment
and software used in the Company's development of its Internet
services division. The Company also incurred higher salary
expenses during 1996 resulting from a significant increase in
the number of its employees.
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CyberAmerica Corporation
(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 31, 1997 By: /s/ Richard Surber
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Name: Richard Surber
Title: President
