UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12B-25
Commission File Number 000-24999
NOTIFICATION OF LATE FILING
(Check One):
( ) Form 10-K ( ) Form 11-K ( ) Form 20-F (X) Form 10-Q ( ) Form N-SAR
For the Period Ended: March 31, 2000
( ) 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:
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
LOTUS PACIFIC, INC.
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Full Name of Registrant
200 Centennial Avenue, Suite 201
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Address of Principal Executive Office (Street and Number)
Piscataway, New Jersey 08854
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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 Rule 12b-25(b), the following
should be completed. (check appropriate box)
(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, 20-F, 11-K or N-SAR, or portion thereof, will be filed on
or before the 15th 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, 11-K, 20-F, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
Registrant's subsidiaries, Arescom Inc. and TurboNet Communications, have not
completed the financial reporting of their results for the quarter ended
March 31, 2000. Both companies are in the process of upgrading their methods
of financial reporting and are experiencing difficulties in processing
information in a timely manner. Failure to obtain the necessary information has
made it impossible for Registrant to timely file its report on Form 10-Q for
the quarter. The information is currently being processed by both subsidiaries
and reviewed by auditors and is expected to be available within the next 48
hours.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Mr. Jeremy Wang
Lotus Pacific, Inc.
200 Centennial Avenue, Suite 201
Piscataway, New Jersey 08854 (732) 885-0100
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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
answer is no, identify report(s). (X) Yes ( ) No
(3) Is it anticipated that any significant change in results of operation for
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.
Registrant's consolidated financial statements will include the results of
operation of both Arescom Inc and TurboNet Communications for the full fiscal
quarter. Registrant acquired its interests in both entities after the
corresponding quarter in the prior fiscal year. The delay in obtaining results
from both subsidiaries is the cause of Registrant's delay in timely filing its
report on Form 10Q for the fiscal quarter and prevents Registrant from
providing a numerical estimate of the difference and the actual results.
Lotus Pacific, 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: May 15, 2000 By /s/ David Li
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David Li, Chief Financial Officers
