U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
(CHECK ONE)
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[ ] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: October 31,1999
[ ] 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
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ABLE TELCOM HOLDING CORP.
Full Name of Registrant (Former Name if Applicable)
1000 HOLCOMB WOODS PARKWAY, SUITE 440
Address of Principal Executive Offices (Street and Number)
ROSWELL, GEORGIA 30076
City, State and Zip Code
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PART II - RULES 12b-25(b) AND (c)
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If the subject report could not be filed without reasonable 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 on 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, Form 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
[ ] (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
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The Form 10-K for the Registrant for the year ended October 31, 1999, could not
be filed without unreasonable effort or expense and, as a result, the Registrant
seeks relief pursuant to Rule 12b-25 (b).
The Registrant is currently finalizing the terms of certain financing activities
including refinancing the Credit Facility, redemption and conversion related to
the Series B Preferred Stock and conversion of certain debt to equity. Further,
Management continues to address accounting issues raised by the Staff of the
Securities and Exchange Commission on past filings of the Registrant so as to
have resolution of those issues appropriately reflected in Registrant's Form
10-K for the year ended October 31, 1999.
Management of the Registrant anticipates the filing of the Form 10-K on or about
February 14, 2000.
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PART IV - OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to
this notification
EDWARD POLLOCK (561) 688-0400
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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
(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?
[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.
See Exhibit A
ABLE TELCOM HOLDING CORP.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: 1/31/2000 By: /s/ EDWARD POLLOCK
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Name: EDWARD POLLOCK
Title: GENERAL COUNSEL
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EXHIBIT A
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EXPLANATION OF ANTICIPATED CHANGE IN RESULTS OF OPERATIONS
Form 12b-25, Part IV(3)
For The Fiscal Year Ended October 31, 1999 Compared To The Corresponding Period
For The Last Fiscal Year
The Company expects to report revenues for the fiscal year ended October 31,
1999, of approximately $400 million compared to $217 million during the fiscal
year ended October 31, 1998. Net loss applicable to common shareholders for the
fiscal year ended October 31, 1999, is expected to range from approximately $30
million to $35 million compared to $6 million for the fiscal year ended October
31, 1998.
Net loss applicable to common shareholders for the fiscal year ended October 31,
1999, is expected to include non-recurring charges of approximately $18 million
to $19 million related to the Company's Series B Preferred Stock and
approximately $16 million to $18 million related to the closure of
non-profitable subsidiaries (Dial Communications, Inc. and Able Integrated
Systems, Inc.) and cost associated with certain contracts. Charges related to
the Company's Series B Preferred Stock totaled $8 million during the fiscal year
ended October 31, 1998.
