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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(CHECK ONE): [X] FORM 10-K [ ] FORM 20-F [ ] FORM 11-K
[ ] FORM 10-Q [ ] FORM N-SAR
FOR PERIOD ENDED: DECEMBER 31, 1998
[ ] 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: ____
IF THE NOTIFICATION RELATES TO A PORTION OF THE FILING CHECKED ABOVE, IDENTIFY
THE ITEM(S) TO WHICH THE NOTIFICATION RELATES:
NOT APPLICABLE
PART I -- REGISTRANT INFORMATION
UNITED PETROLEUM CORPORATION
FULL NAME OF REGISTRANT
FORMER NAME IF APPLICABLE
0-25006
SEC FILE NUMBER
2620 MINERAL SPRINGS ROAD - SUITE A
ADDRESS OF PRINCIPAL EXECUTIVE OFFICE (STREET AND NUMBER)
KNOXVILLE, TN 37917
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 appropriate box)
[x] (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 or Form N-SAR, or portion thereof, will be
filed on or before the fifteenth calendar day following the prescribed
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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 Forms 10-K, 11-K, 10-Q, N-SAR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
Registrant is unable to complete its financial statements in time to file by the
March 31, 1999 filing date. This is largely due to a change in accounting firms
used by the Registrant. In addition, the Registrant has recently filed for
protection under Chapter 11 of the federal bankruptcy laws and has been required
to devote substantial management, accounting and legal resources to the
bankruptcy proceedings which has delayed the filing of the report.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
L. Douglas Keene, Jr. (423) 688-6204
(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?
[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.
The company financial statements will changes as a result of the bankruptcy
proceedings referred to above. The exact amount of the changes is yet to be
determined.
United Petroleum Corporation
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: March 31, 1999
By /s/ L. DOUGLAS KEENE, JR.
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L. Douglas Keene, Jr.
Executive Vice President and CFO
