UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B 25
SEC FILE
NUMBER
NOTIFICATION OF LATE FILING
CUSIP NUMBER
297591 10 9
(Check One): ( ) Form 10 K ( ) Form 20 F ( ) Form 11 K
(X) Form 10 Q ( ) Form N SAR
For Period Ended: SEPTEMBER 30, 2000
( ) 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 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
ESYNCH CORPORATION
Full Name of Registrant:
INNOVUS CORPORATION
Former Name if Applicable:
15502 MOSHER AVE
Address of Principal Executive Office (Street and Number):
TUSTIN, CA 92780
City, State and Zip Code:
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, Form 20 F, Form 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
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 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. (Attach Extra Sheets if Need)
SEC 1344
(6/94)
ESYNCH CORPORATION (THE "COMPANY") IS UNABLE TO TIMELY FILE ITS FORM 10-
QSB FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000, BECAUSE MANAGEMENT WAS
UNABLE TO COMPLETE THE ACCOUNTING FOR THE QUARTER BY THE DEADLINE. THE COMPANY
INTENDS TO FILE ITS REPORT ON FORM 10-QSB FOR THE QUARTER ENDED SEPTEMBER
30, 2000 PROMPTLY AFTER THE ACCOUNTING FOR THE QUARTER IS COMPLETED.
PART IV OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
THOMAS C. HEMINGWAY 714 258-1900
(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 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 there?
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.
(X)Yes ( )No
ESYNCH CORPORATION
-------------------------------------------
(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 15, 2000 By /S/ THOMAS HEMINGWAY
--------------------------------
THOMAS HEMINGWAY, CHIEF EXECUTIVE
OFFICER
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 Violations
(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 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 amended notification.
5. Electronic Filers. This form shall not be used by electronic files
unable to timely file a report solely due to electronic
difficulties.
Files unable to submit a report within the time period prescribed
due
to difficulties in electronic filing should comply with either Rule
201 or Rule 202 of Regulation S T (Section232.201 or Section232.202
of
this chapter) or apply for an adjustment in filing date pursuant to
Rule 13(b) of Regulation S T (Section232.13(b) of this charter).
ATTACHMENT
STATEMENT OF SIGNIFICANT CHANGE IN RESULTS OF OPERATIONS
The following information is current at the time of the filing of
this Form NT 10-Q and is subject to change and correction upon
final filing of Form 10-QSB for the period ended September 30,
2000.
During the quarter and nine months ended September 30, 2000, net
sales were approximately $190,000 and $730,000, compared to
$255,668 and $917,400 for the comparable periods of the prior
year. The sales amounts for the nine month period of 1999
included sales for SoftKat in the amount of $477,011. The
decrease in sales is attributable to the refocusing of the
Company's business from software product sales to video streaming
and production services.
The costs of products sold in the quarter and nine months ended
September 30, 2000 were approximately $50,000 and $100,000,
compared to $91,521 and $459,944 for the comparable periods of the
prior year. The decrease is attributable to the discontinuance of
SoftKat sales and the refocusing of the Kissco business from hard
goods to electronic distribution.
Operating losses for the quarter and nine months ended September
30, 2000 were approximately $3,250,000 and $6,360,000 compared to
operating losses of $2,025,856 and $6,620,658 for the comparable
periods of the prior year. The decline in operating results for
the third quarter, 2000, reflects the refocusing of eSynch into
the video streaming and production services business along with
increased interest expense and stock based compensation which was
offset to some extent by a decrease in stock issued for services.
The Company incurred net interest expense of approximately
$260,000 and $270,000 during the quarter and nine months ended
September 30, 2000, compared to $15,210 and $60,839 for the
comparable periods of the prior year. The increase was primarily
attributable to the Series L Convertible Preferred offering
completed in September, 2000.
The Company incurred stock based compensation expense of
approximately $1,110,000 and $1,380,000 during the quarter and
nine months ended September 30, 2000, compared to $204,000 and
$2,021,347 for the comparable periods of the prior year.
The Company incurred stock issued for services expense of
approximately $280,000 and $420,000 during the quarter and nine
months ended September 30, 2000, compared to $308,238 and
$1,622,164 for the comparable periods of the prior year.
The Company estimates that during the quarter it was using
approximately $325,000 more cash each month than was generated by
operations.
