UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number: 0-19352
NOTIFICATION OF LATE FILING OF FORM 10-K
For the Period Ended: June 30, 1999
PART 1. REGISTRANT INFORMATION
Full name of registrant: AgriBioTech, Inc.
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Former name if applicable: N/A
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Address of Principal executive office (Street and number):
120 Corporate Park Drive
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City, State and Zip Code: Henderson, Nevada 89014
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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)
[ 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-K will be filed on or before
the fifteenth 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 the Form 10-K could not be
filed within the prescribed time period:
The Registrant is unable to complete and file its Form 10-K within the
prescribed time period without unreasonable effort and expense due to the
significant amount of recent organizational change including the acquisition of
nine businesses during the year, the restructuring of the 34 companies acquired
since January 1, 1995 into business units, closure of 35 facilities and related
appraisals, headcount reductions, and the rollout of a new information system.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
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Randy Ingram (702) 566-2440
(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 during the preceding 12 months or for such
shorter period that the registrant was required to file such reports(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.
The Company estimates that it will report a net loss of approximately
$47-51 million or $1.15-$1.25 per share in fiscal 1999, compared to net earnings
of approximately $0.3 million, or $0.01 per share in fiscal 1998. Average
outstanding fully diluted common shares for fiscal 1999 were 40.8 million
compared to 32.1 million for fiscal 1998. The fiscal 1999 results include an
extraordinary item for the loss on the early redeemption of subordinated
convertible debt of approximately $3.9 or $0.10 per share.
AgriBioTech, 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: September 28, 1999 By: /s/ Randy Ingram
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Randy Ingram
Title: Chief Financial Officer
Instruction: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. 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).
