U.S SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
NOTIFICATION OF LATE FILING
FORM 12b-25
Sec. File Number 0-17953 Cusip Number 252587 40 7
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[Check One]
[ X ] Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ]Form 10-Q [ ] Form N-SAR
For the Period Ended: March 31, 1997
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[ ] Transition Report on Form 10-KSB [ ] 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 Instructions [on back
page] Before Preparing Form.
Please Print or Type
Nothing in this form shall be constructed 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
Full Name of Registrant DIAMOND ENTERTAINMENT CORPORATION
Former Name if Applicable
Address of Principal Executive Office [Street and Number]
16818 MARQUARDT AVENUE
City, State and Zip Code CERRITOS, CALIFORNIA 90703 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]
[a] The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expenses;
[ X ] [b] The subject annual report, semi-annual report, transition
report on Form 10-KSB, Form 2-F, Form 11-K, 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
State below in reasonable detail the reasons why the Form 10-KSB, 20-F, 11-K,
10-Q or N-SAR, or the transition report or portion thereof, could not be filed
within the prescribed time period. The Company has experienced a delay in the
audit of the financial statements for March 31, 1997 because of the Chairman of
the Board's heart attack on May 15, 1997. PART IV - OTHER INFORMATION
[1] Name and telephone number of person to contact in regard to this
notification
james k.t.lu CEO 310 921-3999
[Name] [Area Code] [Telephone No.]
[2] Have all other periodic reports required under Section 13 or 15[d]
of the Securities and 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
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[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.
DIAMOND ENTERTAINMENT CORP.
[Name of Registrant as Specified in Charter]
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date June 30, 1997 By: /s/ James K. T. Lu
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James K. T. Lu
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
[other than an executive officer], evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute
Federal Criminal Violation [See 18 U.S.C. 1001]
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 [17 CFR 240.12b-25] of the General
Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3
of the General Rules and Regulations under the Act. The information
contained in or filed with the form will be made a matter of the public
record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities
of the registrant is registered.
4 Amendments to the notifications must also be filed on form 12b-25, but
need not restate information that has been correctly furnished. The form
shall be clearly identified as an amendment notification.
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EXHIBIT A
MOORE STEPHENS, P. C.
CERTIFIED PUBLIC ACCOUNTANTS
340 NORTH AVENUE EAST, SUITE 6
CRANFORD, NEW JERSEY 07016-2461
June 30, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Gentlemen:
We are retained by Diamond Entertainment Corp. as independent
certified public accountants to report on the financial statements at March 31,
1997 and for the fiscal years then ended. We have endeavored, with the full
cooperation of the Company, to obtain the necessary information to meet the
filing requirements for Form 10-KSB, both as to form and timeliness. Because of
the Chairman of the Board's heart attack on May 15, 1997, we have experienced
difficulties in finalizing the audit of the March 31, 1997 financial statements.
Therefore, we will not have sufficient time to complete our audit by June 30,
1997 which is the required filing date for the Company's annual report.
Very truly yours,
MOORE STEPHENS, P. C.
Certified Public Accountants.
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DIAMOND ENTERTAINMENT CORP.
FORM 12B-25
PART IV (3) EXPLANATION
Years ended
March 31,
1 9 9 7 * 1 9 9 6
Sales - Net $ 6,400,000 $ 9,100,000
Net [Loss] $ (1,300,000)$ (286,000)
* Estimated
The Company's increased net loss of approximately $1,000,000 is primarily the
result of insufficient sales. The Company's has experienced cash shortages and
has been unable to complete certain sales order.
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