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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549 SEC File #
0-23049
FORM 12b-25
NOTIFICATION OF LATE FILING Cusip #
784872103
(Check One):
[ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form N-SAR
For Period Ended: September 30, 2000
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[ ] 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: ________________________
_____________________________________________________________________________
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|Read Instruction (on back page) Before Preparing Form, Please Print or Type|
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| Nothing in this form shall be construed to imply that the Commission has |
| verified any information contained herein. |
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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
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Full Name of Registrant:
SVI Holdings, Inc.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
12707 High Bluff Drive, Suite 335
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City, State, Zip Code
San Diego, CA 92130
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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 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 portion thereof, will be
XX filed on or before the fifteenth calendar day following the prescribed
-- due date; or the subject quarterly report of 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 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.
SVI Holdings, Inc. (the "Company") was unable to file its Form 10-Q for the
fiscal quarter ended September 30, 2000 on the due date of November 14, 2000.
The completion of such report has been delayed due to management's review of
an asset valuation at September 30, 2000.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
David L. Reese (858) 481-0103
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(Name) (Area Code) (Telephone No.)
(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
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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.
See attachment A
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SVI Holdings, 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: November 15, 2000 By: /s/ David L. Reese
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ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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ATTACHMENT A
SVI Holdings, Inc. (the "Company") expects to report a net loss from operations
of approximately $3.2 million for the quarter ended September 30, 2000 compared
to a net loss from operations of approximately $0.2 million for the quarter
ended September 30, 1999. The increased comparative loss is due to a decline in
quarterly revenues and a continuing commitment to product development
expenditure.
The Company is also reviewing with an independent valuation expert the value of
a significant note receivable at September 30, 2000. This review may result in
the creation of a valuation allowance and a corresponding charge to bad debt
expense for the quarter ended September 30, 2000. The amount of this non-cash
charge, if any, has not been determined as of the date of this notification.
