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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number
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(Check One):
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For Period Ended March 31, 2000
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[ ] 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:
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Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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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
International Microcomputer Software, Inc.
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Full Name of Registrant
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Former Name if Applicable
75 Rowland Way
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Address of Principal Executive Office (Street and Number)
Novato California 94945
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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 Rules 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, 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 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(c) has been attached
if applicable.
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PART III--NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 20-F, 11-K,
10-Q, N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period. (ATTACH EXTRA SHEETS IF NEEDED)
The form 10-Q for the quarter ended March 31, 2000 could not be filed on
time because of the very extended delay in filing the amended Form 10-K for
the year ended 6-30-99, the amended Form 10-Q for the quarter ended 9-30-99 and
the 10-Q for the quarter ended 12-31-99. This extended delay was caused by the
requirement to satisfactorily amend the first two statements and respond to the
Securities and Exchange Commission's February 10, 2000 letter. These earlier
filings were finally completed last week, and this left insufficient time to
incorporate all of the revised disclosures in the current 10-Q and for our
public accountant to complete their review of the statement.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
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<S> <C> <C>
Jeffrey B. Morgan 415 878-4079
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(Name) (Area Code) (Telephone Number)
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(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
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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 statements to be
included in the subject report of 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.
For the quarter ended March 31, 2000 IMSI will report an operating loss of
$1,490,000 and a net loss of $5,594,000. This compares to an operating loss of
$6,231,000 and a net loss of $9,692,000 for the same period last year. For the
nine months ended March 31, 2000, IMSI will report an operating loss of
$9,372,000 and a net loss of $16,676,000. This compares to an operating loss of
$13,983,000 and a net loss of $15,104,000 for the first nine months of 1999.
All revenues declined and all expenses have been reduced consistent with the
company's strategy to downsize and redirect the Company's focus to develop its
core internet businesses. During the quarter ended March 31, 2000 IMSI
established a $1,834,000 reserve for the anticipated loss on the disposition of
fixed assets. Also during the quarter, IMSI recorded a $2,023,000 loss on the
discontinued European and South African operations. This reserve and loss
account for nearly all of the difference between the operating loss and net
loss for the quarter.
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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/ JEFFREY B. MORGAN
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INSTRUCTION: The form may be signed by an executive officer of the registrant
or by any other duly authorized representative. The name and title of the
person signing the form shall be typed or printed beneath the signature. If
the statement is signed on behalf of the registrant by an authorized
representative (other than an executive officer), evidence of the
representative's authority to sign on behalf of the registrant shall be filed
with the form.
ATTENTION
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Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001)
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