U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
COMMISSION FILE NUMBER 0-21946
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-KSB [ ] Form 11-K [ ] Form 20-F [ ] Form 10-QSB
For Period Ended: DECEMBER 31, 1999
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[ ] 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 Transition Period Ended:
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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:
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant: HI-RISE RECYCLING SYSTEMS, INC.
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Former Name if Applicable:
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Address of Principal Executive Office (Street and Number):
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8505 N.W. 74TH AVENUE
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City, State and Zip Code: MIAMI, FLORIDA 33166
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PART II - RULE 12B-25(B) AND (C)
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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, semi-annual report, transition report
on Form 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 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.
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PART III - NARRATIVE
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State below in reasonable detail the reasons why the Form 10-K, 10-KSB, 11-K,
20-F, 10-Q, 10-QSB, N-SAR or portion thereof could not be filed within the
prescribed time period.
SEE ATTACHMENT HERETO
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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:
BRAD HACKER (305) 597-0243
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(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 the 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.
SEE ATTACHMENT HERETO
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HI-RISE RECYCLING SYSTEMS, 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: March 31, 2000 By: /s/ BRAD HACKER
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Name: Brad Hacker
Title: Chief Financial Officer
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ATTACHMENT TO FORM 12B-25
FORM 10-KSB FOR PERIOD ENDED DECEMBER 31, 1999
PART III - NARRATIVE
The Registrant is unable to file its Annual Report on Form 10-KSB for the year
ended December 31, 1999 because the Registrant is experiencing delays in the
collection and compilation of certain financial information required to be
included in the Form 10-KSB. The Form 10-KSB will be filed as soon as reasonably
practicable and in no event later than the fifteenth calendar day following the
prescribed due date.
PART IV - OTHER INFORMATION
(3) The Registrant anticipates that it will report a material change in its
results of operations for the year ended December 31, 1999 as compared
to its results of operations for the year ended December 31, 1998. The
Registrant expects to report a substantial increase in its revenues for
1999 as compared to 1998. However, the Registrant anticipates its
income before taxes will be similar to that reported by the Registrant
in 1998 as a result of additional costs related to, among other things,
acquisitions which were not consummated, the integration of costs
incurred and bonuses paid in connection with successful acquisitions,
and plant closings. In addition, the Registrant anticipates that its
1999 net income will decline as compared to 1998 as a result of a
significant increase in its income tax provisions for 1999.
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