U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
FOR FORM 10-Q
For Period Ended Commission File No. 1-10210
September 30, 1997 CUSIP No. 301601 10 1
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 a filing above, identify the
Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
EXECUTIVE TELECARD, LTD.
(Full Name of Registrant)
1720 S. Bellaire Street, 10th Floor
Denver, Colorado 80222
(Address of Principal Executive Office)
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;
(b) The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, 11-K or Form N-
SAR, or portions 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Forms 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.
Because of the ongoing negotiations with the Company's primary
lender, the Company was unable to finalize the report for filing in a
timely manner.
PART IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Allen Mandel (303) 691-2115
(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 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 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
As indicated in the Company's Form 10-Q filed concurrently herewith,
the Company had a loss from operations for the quarter ended September 30,
1997 of approximately $1.87 million as opposed to a profit of
approximately $.6 million for the corresponding period in the preceding
year. An explanation for the change in results is included in
Management's Discussion and Analysis of Financial Condition and Results in
the subject report.
Executive Telecard, Ltd.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: November 17, 1997 By:/s/Anne Haas
Anne Haas
Chief Accounting Officer
