SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 000-15205
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [x] Form 10-Q
[ ] Form N-SAR
For the Quarter Ended: September 30, 2000
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: _____________________________________
PART I
REGISTRANT INFORMATION
Full name of registrant: Elcotel, Inc.
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Former name if applicable: N/A
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Address of principal executive office (Street and number):
6428 Parkland Drive
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City, state and zip code: Sarasota, Florida 34243
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PART II
RULE 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 Rule12b-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 Form 10-K, 20-F, 11-K or Form 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 portion thereof could not be filed within
the prescribed time period.
The Form 10-Q for the quarterly period ended September 30, 2000 could not
be filed within the prescribed time period without unreasonable effort or
expense as a result of a delay, resulting from recent staff layoffs, by the
Registrant's accounting staff in completing various financial information
required in connection with the unaudited financial statements required to be
included in the Form 10-Q. The Form 10-Q is currently being prepared and will be
filed no later than November 20, 2000.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
William H. Thompson (941) 758-0389
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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
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(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 statement to be included in the subject report or portion thereof?
[X] Yes [ ] No
The Registrant's statement of operations for the quarter ended September
30, 1999 reflected an income tax benefit of $812,000, which reduced the
Company's net loss from approximately $2,386,000 to approximately $1,574,000.
Because of the uncertainty as to whether the Registrant will be able realize the
benefits of its deferred tax assets, tax benefits for the quarter ended
September 30, 2000 will be offset by an increase in the valuation allowance
against deferred tax assets. Accordingly, the Registrant's expected operating
loss for the quarter ended September 30, 2000 will not be reduced by such tax
benefits. It is estimated that the Registrant's net loss for the quarter ended
September 30, 2000 will approximate $2,000,000 as compared to approximately
$1,574,000 for the quarter ended September 30, 1999, after the recognition of
the income tax benefits referred to above.
Elcotel, Inc.
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 14, 2000
By: /s/ William H. Thompson
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William H. Thompson, Senior Vice President and Secretary
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