UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K or Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[X] Form 10-Q or Form 10-QSB [ ] Form N-SAR
For Period Ended: August 28, 1999
[ ] Transition Report on Form 10-K or Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q or Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended: Not Applicable
[Read Instruction (on back page) 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:
PART I - REGISTRANT INFORMATION
Metro Global Media, Inc.
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Full Name of Registrant
Not Applicable
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Form Name if Applicable
1060 Park Avenue
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Address of Principal Executive Office (Street and Number)
Cranston, Rhode Island 02910
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City, State and Zip Code
<PAGE>
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)
[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 or Form 10-KSB, 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
transition report on Form 10-Q or Form 10-QSB, 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 Form 10-K or Form 10-KSB, 20F,
11-K, 10-Q or Form 10-QSB, N-SAR, or the transition report or portion thereof
could not be filed with the prescribed time period.
In September 1999, the Board of Directors of Metro Global Media, Inc. ("Metro
Global") adopted a plan to discontinue the operations of its former subsidiary
Fanzine International, Inc. ("Fanzine") and instructed management to divest
Fanzine by the end of fiscal 2000. As a result of the Board's action, Metro
Global has reported Fanzine as a discontinued operation for the fiscal years
ended May 29, 1999 and May 30, 1998, and will report Fanzine as a discontinued
operation for the quarter ended August 28, 1999. On September 29, 1999, Metro
Global sold Fanzine back to its former shareholders and a company controlled by
them. Due to the above-described changes in the operations and ownership of
Fanzine, Metro Global has experienced delays in the preparation of Fanzine's
financial information to be included as part of Metro Global's Quarterly Report
on Form 10-QSB for the quarter ended August 28, 1999. Metro Global could not,
without unreasonable expense, accelerate the compilation of such financial
information regarding Fanzine in time for filing the Quarterly Report on Form
10-QSB by October 12, 1999.
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<PAGE>
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Janet M. Hoey (401) 461-2200
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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 answer is no,
identify report(s). [X] Yes [ ] No
(3) Is it anticipated that any significant changes 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? [ ] 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.
Metro Global Media, Inc.
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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: October 12, 1999 By: /s/ Janet Hoey
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JANET HOEY,
Treasurer
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