SAN HOLDINGS INC
NT 10-Q, 2000-05-16
SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES
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             UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                          Washington, D.C. 20549

                               FORM 12b-25
                                                               SEC FILE NUMBER
                       NOTIFICATION OF LATE FILING                 0-16423

                               FORM 10-QSB                      CUSIP NUMBER
                                                                    79781B
                   For Period Ended: March 31, 2000


[Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.]


PART I - REGISTRANT INFORMATION

                             SAN HOLDINGS, INC.
                      --------------------------------
                          Full Name of Registrant


                                   N/A
                     ---------------------------------
                         Former Name if Applicable


                      900 West Castleton Road, Suite 100
         -----------------------------------------------------------
         Address of Principal Executive Office (Street and Number)

                          Castle Rock, CO  80104
                         -------------------------
                          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 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;

     (b)  The subject annual report, semi-annual report, transition report on
          Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be
          filed on or before the fifteenth calendar day following the
[X]       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 has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.

<PAGE>

The Company just changed auditors and it has been unable to transfer all
necessary accounting records to the new auditor in time for the new auditor to
review the financials.

PART IV - OTHER INFORMATION

(1)  Name and telephone number of person to contact in regard to this
     notification.

               Jon D. Sawyer                 303/893-2300
               -------------          -----------------------------
                  (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
     reports) 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 by the earnings statements
     to be included in the subject report or portion thereof?   [ ]Yes [X]No

NARRATIVE AND QUALITATIVE EXPLANATION OF THE ANTICIPATED CHANGE:

Not applicable.

- ------------------------------------------------------------------------------

                             SAN HOLDINGS, INC.
               -------------------------------------------
               (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

                                     SAN HOLDINGS, INC.



                                     By:/s/ Cory J. Coppage
                                        Cory J. Coppage, Treasurer
Date: May 15, 2000

[ATTENTION: Intentional misstatements of omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).]


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