Par 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 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 or semi-annual report/portion thereof
will be
filed on or before the fifteenth calendar day following the
prescribed due
date; or the subject quarterly report/portion thereof will be
filled 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 the Form 10-K, 11-K, 20-F,
10-Q or N-SAR or
portion thereof, could not be filled within the prescribed time period.
The company awaiting the completion of the company's year end audit by its
accountants
Cordovano and Harvey P.C. It is anticipated that the 10-KSB or portion
thereof will be filed no
later then the fifteenth calendar day following March 31, 1999
Part IV - Other information
(4) Name and telephone number of person to contact in regard to this
notifications:
Randall A. Baker (760)-398-9700
Name (Area code) (telephone number)
(5) Have all other periodic reports required under Section13 or 15(d) of the
Securities and
Exchange Act of 1934 of 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 reports) been filed? If answer is no, identify report(s).
(X) YES ( ) NO
(6) Is it anticipated that any signifigant 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?
( ) YES (X) 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.
Imatel Holdings, Inc.
(Name of registrant as
specified in charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly
authorized.
Date: March 31, 1999 By:/s/ Dempsey K. Mork
________________________ _____________________
Part IV (3) Explanation
Statement of Independent Auditors
We are unable to furnish the required Independent auditor's report on the
financial statements
of Imatel holding, inc. as of and for the year ended December 31, 1998, due
to the fact that our
audit procedures have not been completed.
Cordovano and Harvey, P.C.
Denver, Colorado
March 30 1999
The company's loss from operations for the year ended December 31, 1998 will be
approximately $1,500,000 subject to final auditors adjustments, as compared
tto $3,500,000 for
the corresponding period in 1997.
