<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number: 0-19352
NOTIFICATION OF LATE FILING OF FORM 10-Q
For Period Ended: December 31, 1998
-------------------------------------------
Part 1. Registrant Information
AGRIBIOTECH, INC
----------------
(Full name of registrant)
120 CORPORATE PARK DRIVE
HENDERSON, NV 89014
-------------------------------
(Address of Principal executive office)
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;
[x] (b) The subject annual report on Form 10-Q will be filed on or before the
5th 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.
<PAGE>
Part III. Narrative
State below in reasonable detail the reasons why Form 10-Q could not be
filed within the prescribed time period:
The Registrant recently completed its acquisition of HyberGene, LLC, which
necessitates updating certain pro forma information to reflect the impacts of
acquisitions on the Registrant's historical financial information that will be
included in the Form 10-Q for the quarter ended December 31, 1998. Accordingly,
the Registrant is unable to file its Form 10-Q within the prescribed time period
without unreasonable effort and expense.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Johnny R, Thomas (702)566-2440
----------------- -------------
(Name) (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
<PAGE>
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.
The Company's net sales and net losses were approximately $75.9 million and
$0.26 per share, for the three-month period ended December 31, 1998 and $165.5
million and $0.25 per share for the six-month period ended December 31, 1998.
This compares to net sales and losses of $23.4 million and $0.05 per share for
the three-month period ended December 31, 1997 and $63.8 million and $0.03 per
share for the six-month period ended December 31, 1997. There were also
corresponding increases in assets, equity, and average shares outstanding as a
result of having completed a large number of acquisitions during the past year.
The seasonality of the seed business is such that the Registrant will likely
always have losses in the December quarter. Due to acquisitions, the Registrant
is significantly larger in fiscal 1999 than it was in fiscal 1998 and,
therefore, the loss in fiscal 1999 is larger than the loss in fiscal 1998.
AGRIBIOTECH, 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: February 16, 1999 By: /s/ Randy Ingram
---------------------
Title: Vice President/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 and 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).
---
