UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING SEC FILE NUMBER: 333-5862
CUSIP NUMBER: 64107P102
[X]Form 10-K [ ]Form 20-F [ ] Form 11-K [ ]Form 10-Q
[ ]Form N-SAR
For Period Ended: December 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 the 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,
identify the Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
Full Name of Registrant
Former Name if Applicable
NET LNNX, INC.
Address of Principal Office (Street and Number)
324 DATURA STREET, SUITE 150
City, State and Zip Code
WEST PALM BEACH, FLORIDA 33401
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
[X] (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 Forms 10-K, 20-F, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
The Registrant's Form 10-KSB could not be filed within the prescribed time
period because not all audit procedures have been completed due to a series of
subsequent events that need to be disclosed. Not all definitive documentation
has been available in order to complete the audit.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Ronald W. Hayes, President (561) 659-1196
(Name) (Area Code) (Telephone Number)
(2) Have all other period 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 short 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 operations
from the corresponding period for the last fiscal year will be reflected in
the earnings statement 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.
The anticipated change will be a loss for the 4th quarter of 1996 of
approximately $540,000. During the last quarter of 1995, the Registrant
was a dormant shell. During 1996, the Registrant started a new
subsidiary which in early 1997 was sold for stock in the purchaser and
the assumption of liabilities. During the 4th quarter of 1996, the
Registrant, knowing it would dispose of the subsidiary, wrote off assets
of the subsidiary to net realizable value. The Registrant also
sustained much expense in its attempts to market its stock and seeking
to acquire subsidiaries. The Registrant also disposed of an
unconsolidated affiliate in early 1997, and the investment in
that affiliate was written down to net realizable value.
NET LNNX, INC. has caused this notification to be signed on its behalf by
the undersigned hereunto duly authorized.
Date: March 28, 1997 BY:/s/Ronald W. Hayes, Jr.
Ronald W. Hayes, Jr.
President
RICHARD C. GATES
Certified Public Accountant
2000 Palm Beach Lakes Blvd., Ste 800
West Palm Beach, Florida 33409
Phone 561/478-3030 - Fax 561/478-2425
03/27/97
Net Lnnx, Inc.
324 Datura St, Ste. 150
West Palm Beach, FL 33401
As required by Securities and Exchange Commission Form 12b-25, below is a
statement regarding the inability of the registrant to comply with the 90 day
filing date for Form 10-KSB for its year ended December 31, 1996:
The Form 10-K for the referenced registrant due March 31, 1997 has been
delayed. The reason is not all audit procedures have been completed due to a
series of subsequent events that need to be disclosed. Not all definitive
documentation has been available in order to complete the audit.
This statement is supplied strictly for purposes of filing Securities and
Exchange Commission Form 12b-25 for the registrant's Form 10-KSB for the year
ended December 31, 1996.
/s/Richard C. Gates
Richard C. Gates, CPA
Member American Institute of Certified Public Accountants
SEC Practice Section
