SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER: 0-17483
(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: May 31, 1996
[ ] 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: ________________________
Read Attached Instruction Sheet Before Preparing Form. Please Print
or Type.
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: ____________
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Part I -- Registrant Information
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Full Name of Registrant: EUROAMERICAN GROUP INC.
Former Name if Applicable:
Address of Principal Executive
Office (Street and Number): 50 Broad Street
Suite 516
City, State and Zip Code: New York, New York 10004
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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 unreasonable 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 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 due date; or the subject quarterly report or Form 10-Q, or
portion thereof will be filed on or before the fifth calendar day
following the prescribed due date; and
[X] (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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State below in reasonable detail the reasons why Form 10-K and
Form 10-KSB, 20-F, 11-K, 10-Q and 10-QSB, N-SAR, or the transition report
or potion thereof could not be filed within the prescribed period.
The Registrant's Annual Report on Form 10-KSB for the fiscal year
ended May 31, 1996 cannot be filed timely without unreasonable effort or
expense because Arthur Andersen LLP, the Registrant's independent public
accountants, has not completed its audit of the Registrant's Consolidated
Financial Statements for the fiscal year ended May 31, 1996 and therefore
has not issued its report related thereto.
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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:
Steven C. Millner (212) 447-0909
(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?
[ ] Yes [X] 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.
____________________________________
EUROAMERICAN GROUP INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 29, 1996 By: /s/ Steven C. Millner
Steven C. Millner
Secretary
August 28, 1996
U.S. Securities and Exchange Commission
Washington, D.C. 20549
Dear Sirs:
With respect to the filing of the Form 10-KSB of EuroAmerican Group Inc.
for the fiscal year ended May 31, 1996, we note that certain information
prepared and provided to us by the Registrant could not be audited in a
reasonable timeframe, which has resulted in a delay in the completion and
issuance of the audit report on the consolidated financial statements.
Very truly yours,
/s/ Arthur Andersen LLP
ARTHUR ANDERSEN LLP
