SECURITIES AND EXCHANGE COMMISSION
WASHIGNTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File Number 0-22580
(Check one)
[ ] Form 10-K and Form 10-KSB [ ] Form 11-K
[ ] Form 20-F [X] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For period ended September 30, 1999
[ ] Transition Report on Form 10-K and Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q and Form 10-QSB
[ ] Transition Report on Form N-SAR
For the transition period ended
Read Attached Instruction Sheet 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 items(s) to which the notification relates:
PART I
REGISTRANT INFORMATION
JPE, Inc. (d/b/a ASCET INC)
(Full name of registrant)
N/A
(Former name if applicable)
30400 Telegraph Road, Suite 401
(Address of principal executive office (street and number))
Bingham Farms, Michigan 48025
(City, state and zip code)
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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 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;
[X]
(b) The subject annual report, semi-annual report, transition
report on Form 10-K, 10-KSB, 20-F, 11-K or Form N-SAR, or
portion thereof will be filed on or before the 15th calendar
day following the prescribed due date; or the subject
quarterly report on Form 10-Q, 10-QSB or portion thereof will
be filed on or before the fifth calendar day following the
prescribed due date; and
[X]
(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 Form 10-K could not be
filed within the prescribed time period.
On November 15, 1999 the Registrant experienced technical difficulties
converting the filing from its word processing software to Edgar Ease, software
that converts documents into the required Edgar Format. Such technical
difficulties, when discovered, were incapable of being resolved without
unreasonable effort. These difficulties have been resolved and the Registrant
fully intends to submit its filing on November 16, 1999.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Joseph E. Blake 248 723 5531
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(Name) (Area Code)(Telephone Number)
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(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).
[ ] Yes [X] No
Form 8-K which includes a description and related pro forma
information of the JPE Canada Inc. sale, which occurred on
February 8, 1999, which was reported by the Registrant in Form
10K.
(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.
JPE, Inc. will report comprehensive income of $549 thousand for the quarter
ended September 30, 1999 compared to comprehensive loss of $38.1 million for the
quarter ended September 30, 1998. The loss for the 1998 period is partially
attributed to a $26.6 million write-off related to impairment of long term
assets at three of the Company's subsidiaries, a $5.3 million loss on the sale
of one of the Company's subsidiaries and higher interest rates resulting from
the Company's default on its Bank Loans.
As stated in Part 3 above, the Company fully anticipates submitting its filing
on November 16, 1999.
JPE, Inc.(d/b/a ASCET 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 16, 1999 By:/s/ Joseph E. Blake
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Joseph E. Blake
Vice President and Chief Financial Officer
(Principal Financial Officer and Principal
Accounting Officer)
