SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
COMMISSION FILE NUMBER--0-23634
NOTIFICATION OF LATE FILING
(Check One): |_| Form 10-K |_| Form 20-F |_| Form 11-K |X| Form 10-Q
|_| Form N-SAR
For Period Ended: June 30, 2000
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[ ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
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
KFx Inc.
Full Name of Registrant
None
Former Name if Applicable
1999 Broadway, Suite 3200
Address of Principal Executive Office (Street and Number)
Denver, Colorado USA 80202
City, State and Zip Code
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 Rule 12b-25(b), the
following should be completed. (Check appropriate box)
(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 or 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 Forms 10-K, 20-F, 11-K,
10-Q, N-SAR, or the transition report or portion thereof, could not be
filed within the prescribed time period.
The Registrant is unable to complete the information for the timely
presentation of its Quarterly Report on Form 10-Q for the three and six
month periods ended June 30, 2000 due to unanticipated delays finalizing
the related interim financial statement review procedures with its
auditors.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Seth L. Patterson (303) 297-4982
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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 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
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.
KFx 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 August 15, 2000 By /s/ Seth L. Patterson
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Seth L. Patterson,
Executive Vice President and
Chief Financial Officer
The Registrant expects significant changes in its results of operations
for the quarter ended June 30, 2000 compared to the quarter ended June
30, 1999. Anticipated condensed financial information for these periods
is contained in the table below. The changes from 2000 to 1999 reflect
(a) an increase in Pegasus revenues of $431,000 (130%) due to a higher
activity and efficiency level, (b) the $1,000,000 K-Fuel license in
1999, which translated into to $750,000 in operating income, not
repeated in 2000, (c) a $205,000 reduction in KFx corporate level
general and administrative costs and (d) a $1,000,000 non cash, non
operational cumulative charge to correct the previously unrecorded
accretion of the 12% premium on its 6% Convertible Debentures. The
information below for 2000 is subject to finalization of our auditors'
related interim financial statement review procedures.
Three Months Three Months
Ended Ended
6/30/00 6/30/99
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SUMMARY OF OPERATIONS
Operating revenues $ 860,530 $ 1,425.464
Operating loss $(1,796,961) $(1,356,339)
Net loss $(3,049,515) $(1,535,218)
Basic and diluted loss per share $(.12) $(.06)
