<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 0-21042
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q
[ ] Form N-SAR
For Period Ended: December 31, 1996
[] Transition Report on Form 10-K [] Transition Report on Form 10-Q
[] Transition Report on Form 20-F [] Transition Report on Form N-SAR
[] Transition Report on Form 11-K
For the Transition Period Ended:______________________________________
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: MOLTEN METAL TECHNOLOGY, INC.
Former name if applicable:____________________________________________________
Address of principal executive office (Street and number): 400-2 Totten Pond
Road
City, state and zip code: Waltham, Massachusetts 02154
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, semi-annual report, transition report on
Form 10-K, 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 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
[X] (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable. See Exhibit A attached hereto.
<PAGE> 2
PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period.
Because of its significance to the registrant's business, the financial
statements of M4 Environmental L.P. ("M4"), a joint venture between the
registrant and Lockheed Martin Corporation, were filed as a schedule to the
registrant's Annual Report on Form 10-K for the year ended December 31, 1995.
M4's financial statements also will be required to be filed as a schedule to the
registrant's Annual Report on Form 10-K for the year ended December 31, 1996. By
letter dated March 6, 1997, Coopers & Lybrand L.L.P., the previous accountants
for M4, informed M4 that they were resigning as M4's accountants effective as of
that date. Coopers & Lybrand's audit reports for the period from inception
(August 1994) through the date of resignation did not contain any adverse
opinions or qualifications, and there had not been any disagreements or
reportable events (within the meaning of Item 304 of Regulation S-K) between M4
and Coopers & Lybrand during such period. On March 27, 1997, M4 engaged Price
Waterhouse LLP as its independent accountants to audit M4's financial
statements. Price Waterhouse, which also serves as the registrant's independent
accountants, has informed the registrant that it will be unable to complete its
audit of M4's financial statements prior to the March 31, 1997 filing date for
the registrant's Form 10-K. Because of M4's significance to the registrant, the
audit of the registrant's financial statements cannot be completed until the
audit of M4's financial statements is completed. In addition, the registrant and
M4 are in the process of reassessing the value of certain of their fixed assets.
The registrant and M4 expect to retain an independent expert to assist in this
reassessment. The financial statements of the registrant and M4 cannot be
completed until this reassessment of value is completed. As a result,the
registrant will be unable, without unreasonable effort or expense, to file its
Form 10-K for the year ended December 31, 1996 by the required March 31, 1997
filing date.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Ethan E. Jacks 617 487-7626
- -------------------------------------------------------------------------------
(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 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 dated January 2, 1997
(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 registrant expects its 1996 results of operations to be materially
lower than 1995's results of operations, primarily due to the potential
reassessment of value of certain fixed assets and disputes pertaining to
receivables from M4 totaling $4.965 million. Because of the uncertainty
surrounding the amount of potential reassessment of value of certain fixed
assets and the resolution of the dispute regarding receivables, a reasonable
estimate of 1996 results of operations cannot be made at this time.
<PAGE> 3
MOLTEN METAL TECHNOLOGY, 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: April 1, 1997 By: /S./ Ethan E. Jacks
-----------------------------------
Ethan E. Jacks
Vice President and
General Counsel
