U.S. Securities and Exchange Commission
Washington, D.C.
SEC File Number
Notification of Late Filing 33-35580-D
CUSIP Number
12284P 10 6
[ ] Form 10-K [ ] Form 11-K [ ] Form 28-F [ X] Form 10-Q
For period ended: September 30, 2000
Read instructions (on back page) Before Preparing Form. Please type or print
Nothing in this Form shall be construed to imply that the Commission
has verified any information contained herein.
If the certification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates: entire report
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Part I - Registrant Information
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Full Name of Registrant Burst.com, Inc.
Former Name if Applicable Instant Video Technologies, Inc.
Address of Principal Executive Officer (Street and Number)
500 Sansome Street, Suite 500
City, State and Zip Code
San Francisco, CA 94111
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Part II - Rules 12b-25 (b) and (c)
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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 / portion thereof will be filed on or
before the fifteenth calendar day following the prescribed due date;
or the subject quarterly report / 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(s) has been attached if applicable.
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Part III - Narrative
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State below in reasonable detail the reason why the Form 10-K, 11-K, 28-F or
10-Q or portion thereof, could not be filed within the prescribed time period.
The Form 10-Q could not be filed within the prescribed time period because
of recent events requiring disclosure on the 10-Q. Such delays could not be
eliminated by the Registrant without unreasonable effort or expense. The
form 10-Q will be filed as soon as practicable, but in no event later than
the fifth business day following the prescribed due date.
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Part IV - Other Information
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(1) Name and telephone number of person to contact in regard to this
notification.
John C. Lukrich 415 391-4455
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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 the 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
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.
Net revenues were $94,377 and $480,526 for the three month and nine month
periods ended September 30, 2000, respectively, versus none in the same
periods in 1999. We completed the commercial release of our Burstware(R)
suite of products in November 1999 and commenced shipments in February
2000. During the nine months ended September 30, 2000, we also introduced
our content hosting service, which enables our customers to store their
audio-video content on our Burstware servers for delivery to their
employees, customers or other end-users over broadband networks. Orders for
approximately $13,018, consisting of software license fees and hosting and
other consulting services were taken during the quarter. Revenues of
$45,937 not recognized or deferred relate to establishment of a returns
reserve, deferral of customer support, hosting and other services that will
be recognized as services are provided. The product cost of revenue
recorded for the nine months ended September 30, 2000 consisted primarily
of the cost of equipment purchased from a third-party, which was resold to
a customer in connection with a software sale. Resale of equipment is not
part of our sales strategy, and we do not plan to make such sales to any
significant degree in the future. During the nine months ended September
30, 2000, our customer Interzest accounted for 65% of revenues. No other
single customer accounted for more than 10% of our revenues.
Operating expenses were $4,707,560 and $15,100,063 for the three month and
the nine month periods ended September 30, 2000, respectively, as compared
to $4,090,618 and $8,279,320 during the same periods in 1999. This resulted
in total operating expenses increasing by $616,942 and $6,820,743 for the
three month and nine month periods ended September 20, 2000, respectively,
over the same periods in 1999. Research and development decreased during
the three months ended September 30, 2000 and increased by $371,995 for the
nine months then ended. There were increases of $885,405 and $4,401,648 for
sales and marketing and $649,722 and $2,047,100 in general and
administrative
<PAGE>
for the three month and nine month periods ended September 30, 2000,
respectively, over the same periods in 1999. The increased costs were
primarily a result of an overall increase in business activity and the
establishment and expansion of our sales force and marketing programs in
particular.
Burst.com, Inc.
Name of Registrant as specified in charter
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 14, 2000 By: /s/ John C. Lukrich
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John C. Lukrich
CFO
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.
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ATTENTION
International misstatements or omissions of fact constitute
Federal Criminal Violations (Sec 18 U.S.C. 1001)
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