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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
[X] Form 10-KSB
For Period Ended: March 31, 1996
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant: Intile Designs, Inc.
Former Name if Applicable: N/A
Address of Principal Executive Office: 9716 Old Katy Road, Suite 110
City, State, and Zip Code: Houston, Texas 77055
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PART II - RULES 12B-25(b) AND (c)
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(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 on Form 10-KSB, or portion thereof will be
filed on or before the fifteenth calendar day following the prescribed due
date.
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PART III - NARRATIVE
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The Company is unable to meet the prescribed due date due to delays
related to working with a new public accounting firm (BDO Seidman LLP) and to
the disclosure and presentation issues relating to the TCM Holdings
Corporation Chapter 7 bankruptcy case. Intile Designs has determined that
the most appropriate presentation relating to this situation is to treat TCM
as an investment and not as a consolidated subsidiary in view of the
temporary nature of Intile's control. Making the appropriate changes and
processing these changes through BDO Seidman's quality review process has
extended our ability to file past the original due date of June 29, 1996.
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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:
James C. Hazlewood
(713)-468-8400
(2) Have all other periodic records 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
Intile Designs, Inc. has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.
Date: June 28, 1996 By: /s/ C. William Cox
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C. William Cox, President
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Part IV - Item (3):
The Company anticipates reporting a $4,246,837 loss for the year ended March
31, 1996 as compared to $ 35,291 profit for the year ended March 31, 1995.
TCM Holdings Corporation (Tile City), a wholly owned subsidiary, has incurred
losses of $3,169,419 during the year ended March 31, 1996. On August 3, 1995
the Company closed Tile City. The Company has incurred additional
unidentifiable costs relating to higher borrowings and greater administrative
costs as a result of the TCM acquisition which are not included in the direct
losses at TCM.
