UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): [X]Form 10-K and Form 10-KSB [ ]Form 20-F
[ ]Form 11-K [ ]Form 10-Q and Form 10-QSB
[ ]Form N-SAR
___________________
For Period Ended: December 31, 1997 | |
[ ] Transition Report on Form 10-K | SEC FILE NUMBER |
[ ] Transition Report on Form 20-F | 1-11596 |
[ ] Transition Report on Form 11-K |___________________|
[ ] Transition Report on Form 10-Q ___________________
[ ] Transition Report on Form N-SAR | |
For the Transition Period Ended: ______ | CUSIP NUMBER |
| 714157-10-4 |
|___________________|
________________________________________________________________
| 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 Item(s) to which the notification relates: ____
_________________________________________________________________.
_________________________________________________________________
PART I -- REGISTRANT INFORMATION
_________________________________________________________________
Full Name of Registrant
Former Name if Applicable
Perma-Fix Environmental Services, Inc.
_________________________________________________________________
Address of Principal Executive Office (Street and Number)
1940 Northwest 67th Place
_________________________________________________________________
City, State and Zip Code
Gainesville, Florida 32653
_________________________________________________________________
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 12b-
25(b), the following should be completed.
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(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, Form 20-F, 11-K,
| Form N-SAR, or portion thereof, will be filed on
| or before the fifteenth calendar day following
| the prescribed due date or the subject quarterly
| report or 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.
_________________________________________________________________
PART III -- NARRATIVE
_________________________________________________________________
State below in reasonable detail the reasons why Form 10-K and Form
10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition
report, or portion thereof, could not be filed within the
prescribed period.
As a result of the Registrant's recent determination that certain
writedowns would be taken in connection with the discontinuation of
certain of the Registrant's operations, the Registrant has been
unable to prepare certain financial information required by Form
10-K for the year ended December 31, 1997, without unreasonable
effort or expense. Accordingly, additional time is needed by the
Registrant to complete the disclosures required for its Form 10-K
for the year ended December 31, 1997.
_________________________________________________________________
PART IV -- OTHER INFORMATION
_________________________________________________________________
(1) Name and telephone number of person to contact
in regard to this notification:
Richard T. Kelecy 352 395-1351
______________________ __________ _________________
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports 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 twelve
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".
Perma-Fix Environmental Services, 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: March 27, 1998 By: /s/ Richard T. Kelecy
________________________________
Richard T. Kelecy
Chief Financial Officer
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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 or
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).
_________________________________________________________________
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240, 12b-25) of
the General Rules and Regulations under the Securities
Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the
Securities and Exchange Commission, Washington, D.C. 20549, in
accordance with Rule 0-3 of the General Rules and Regulations
under the Act. The information contained in or filed with the
Form will be made a matter of public record in the Commission
files.
3. A manually signed copy of the form and amendments thereto
shall be filed with each national securities exchange on which
any class of securities of the registrant is registered.
4. Amendments to the notifications must also be filed on Form
12b-25 but need not restate information that has been
correctly furnished. The form shall be clearly identified as
an amended notification.
5. Electronic Filers: This form shall not be used by electronic
filers unable to timely file a report solely due to electronic
difficulties. Filers unable to submit a report within the
time period prescribed due to difficulties in electronic
filing should comply with either Rule 201 or 202 of Regulation
S-T (Section 232.201 or Section 232.202 of this chapter) or
apply for an adjustment in filing date pursuant to Rule 13(b)
of Regulation S-T (Section 232.13(b) of this chapter).
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ATTACHMENT "A"
It is anticipated that the Registrant will report a net income from
continuing operations for the year ended December 31, 1997, of
approximately $192,000. The Registrant also made the strategic
decision in February 1998, to discontinue certain operations at its
Memphis, Tennessee facility ("Memphis Facility"), resulting in a
loss from discontinued operations of approximately $4,100,000 at
December 31, 1997. After giving effect to the recognition by the
Registrant of approximately $352,000 for preferred stock dividends
in 1997, it is anticipated that the Registrant will report for the
year ended December 31, 1997, a net loss of approximately
$4,300,000 (or approximately $.40 per share), which includes (i)
the recording of a gain of approximately $1,475,000 during the
fourth quarter of 1997 which was received by the Registrant during
the first quarter of 1998 from the Registrant's insurance carrier
for a business interruption claim regarding a January 1997 fire and
explosion at the Memphis Facility, and (ii) a loss of approximately
$3,053,000 which was recorded in the last quarter of 1997 in
connection with the loss on disposal of discontinued operations at
the Memphis Facility and which consists of approximately $2,272,000
for impairment of certain assets and $1,781,000 for the
establishment of certain closure liabilities. In comparison, the
Registrant's restated net loss for the year ended December 31,
1996, was approximately $2,400,000,(or approximately $.27 per
share), which included a stock dividend on preferred stock issued
in 1996 which was recorded to reflect the difference between the
conversion price and the quoted market price of the Common Stock at
the date of issuance, which difference is approximately $2,000,000.
These 1996 financial results are restated from those previously
reported to reflect the discounted conversion feature on certain
preferred stock issued during 1996. Such restated results for 1996
will be fully set forth in the Registrant's Annual Report on 10-K
for the year ended December 31, 1997.
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