SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number: 0-18410
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NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ X ] Form 10Q [ ] Form N-SAR
For Period Ended: MARCH 31, 2000
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
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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 Item(s) to which the notification relates:
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PART I. REGISTRANT INFORMATION
Full name of registrant: NETCURRENTS, INC.
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Former name if applicable:
IAT RESOURCES CORPORATION
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Address of principal executive office (STREET AND NUMBER):
9720 WILSHIRE BOULEVARD, SUITE 700
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City, State and Zip Code: LOS ANGELES, CALIFORNIA 90212
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PART II. RULE 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;
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[X] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on
or before the 15th 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 Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)
The Company has not been able to compile the requisite
financial data and other narrative information necessary to enable
it to have sufficient time to complete the Company's Form 10-QSB by
May 15, 2000, the required filing date, without unreasonable effort
and expense.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
ARTHUR BERNSTEIN (310) 860-0200
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(Name) (Area Code)(Telephone number)
(2) Have all other periodic reports required under Sections 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 report(s) been filed? If the 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 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.
NETCURRENTS, 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
thereunto duly authorized.
Date: MAY 15, 2000 By: /S/ ARTHUR BERNSTEIN
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Name: Arthur Bernstein
Title: Executive Vice President
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PART IV, QUESTION #3
The Company anticipates a significant change in results of operations from
the corresponding period for the last fiscal year due to the Company's recent
acquisition of Infolocity, Inc. as of December 27, 1999, and the fact that the
financial statements will be restated to reflect the effects of this
acquisition.
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