U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Notification of Late Filing
x Form 10-K Form 11-K Form 20-F Form 10-QSB Form N-SAR
For Year Ended: September 30, 1999
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:
N/A
PART I - REGISTRANT INFORMATION
PROGRESSIVE TELECOMMUNICATIONS CORPORATION
(Exact Name of Registrant as Specified in Charter)
601 Cleveland Street, Suite 930, Clearwater, Florida
(Address of Principal Executive Office)
33755
(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;
x (b) The subject annual report or semi-annual report/portion thereof will be
filed on or before the fifteenth calendar day following the prescribed due
date; or the subject quarterly report/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 the Form 10-KSB, 11-K, 20-F,
10-QSB or N-SAR or portion thereof could not be filed within the prescribed
time:
The Company recently completed an acquisition of Progressive Telecommunications
Corporation (Florida) and its subsidiaries. In addition, the Company changed
its auditors. Due to these reasons the Company was unable to complete this
filing on a timely basis without unreasonable effort and expense.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Joel C. Schneider, Esq. (516) 228-8181
(2) Have all other periodic reports required (under Section 13 or 15(d) of the
Securities and 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 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 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 can not be made.
The Company has undergone significant changes in its business from a film
distribution company to a telecommunications and e-commerce business. While
we anticipate significant changes in its results of operations, a reasonable
estimate of the results can not be made at this time.
PROGRESSIVE TELECOMMUNICATIONS CORPORATION has caused this notification to be
signed on its behalf by the undersigned thereunto duly authorized.
Dated: December 30, 1999 PROGRESSIVE TELECOMMUNICATIONS
CORPORATION
By: /s/ Barry L. Shevlin
Barry L. Shevlin, CEO
ATTENTION
Intentional misstatements or omissions of act constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
4
P9725280
