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UNITED STATES SEC File Number
SECURITIES AND EXCHANGE COMMISSION 0-24512
Washington, D.C. 20549 -------
Cusip Number
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One) [X]Form 10-K [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: April 30, 1999
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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:
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READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR TYPE
Nothing in the 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
E-NET FINANCIAL CORPORATION
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Full Name of Registrant
E-Net Corporation
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Former Name if Applicable
2102 Business Center Drive, Suite 115E
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Address of Principal Executive Office (STREET AND NUMBER)
Irvine, California 92612
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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)
[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, 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 of 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.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed with the
prescribed time period. (Attach Extra Sheets if Needed)
The Company's Form 10-KSB has not been filed with the Commission within the
prescribed time period (by April 30, 1999) for the following reasons which were
outside the Company's control and which could not have been avoided without
unreasonable effort or expense.
On February 15, 1999 the Company acquired two new subsidiaries, E-Net Mortgage
Corporation, a Nevada corporation and City Pacific International, U.S.A., Inc.,
a Nevada corporation. At that time the prior management of the Company resigned
and new management was appointed. Obtaining the necessary information from
these entities which the Company needs in order to complete its financial
statements for its annual report on Form 10-KSB has been delayed due to several
factors, including changes in legal and accounting personnel.
On or about April 30, 1998, Gary A. Case, the Registrant's independent
accountant for the Registrant's most recent fiscal year, resigned. The
Registrant's financial statement for the prior fiscal year ended April 30,
1998, prepared by R.E. Bassie & Co., contained no adverse opinion or disclaimer
of opinion, or was qualified as to uncertainty, audit scope, or accounting
principles.
On or about July 23, 1999, the Registrant engaged the accounting firm of
Cacciamatta Accountancy Corporation as the independent public accountants to
audit the Registrant's fiscal year ended April 30, 1999. This change in
independent accountants was approved by the Board of Directors of the
Registrant.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Jean Oliver (949) 253-4633
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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 reports been
filed? If answer is no identify report(s).
[ ] Yes [X] No
Reports that still need to be filed are (a) two (2) Form 8-Ks reporting
(i) resignation of independent accountants in April 30, 1998; and (ii)
change in control of Registration and acquisition of assets, occurring
in February 1999; and (b) three (3) Form 10Q-SB for the periods ended
July 30, 1998, October 31, 1998 and January 31, 1999.
(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? [ ] 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:
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E-NET FINANCIAL CORPORATION
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: July 27, 1999 By: /s/ Michael P. Roth
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Michael P. Roth
President
Date: July 27, 1999 By: /s/ Jean Oliver
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Jean Oliver
Chief Financial Officer
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
persons 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 INSTRUCTION
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 amendment 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 Rule 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 232.12(c) of this chapter).
