U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SEC FILE NUMBER
FORM 12b-25 1-14462
NOTIFICATION OF LATE FILING CUSIP NUMBER
03071L101
(Check One):
[x] Form 10KSB [ ] Form 20F [ ] Form 11K [ ] Form 10QSB [ ] Form N-SAR
For Period Ended: December 31, 1998
[ ] Transition Report on Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-QSB
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
Read Attached Instruction Sheet Before Preparing Form. Please Print or Type.
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: AmeriVest Properties Inc.
Former Name if Applicable: N/A
Address of Principal Executive
Office (Street and Number): 2801 Youngfield Street, Suite 300
City, State and Zip Code: Golden, CO 80401
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PART II - RULES 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)
(a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
(b) The subject annual report, semi-annual report, transition report on
Form 10-KSB, Form 20-F, 11-K or Form N-SAR, or portion thereof will be
[X] filed on or before the fifteenth calendar day following the prescribed
due date; or the subject quarterly report or transition report on Form
10-QSB, 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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<PAGE>
PART III - NARRATIVE
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State below in reasonable detail the reasons why the Form 10-KSB, 20-F, 11-K,
10-QSB or N-SAR or the transition report or portion thereof could not be filed
within the prescribed period.
Due to the complexities of integrating the accounting records for the 15
properties acquired by the Registrant during the year ended December 31, 1998
into the Registrant's accounting system and auditing that information, the
Registrant is unable to timely file its Annual Report on Form 10-KSB without
unreasonable effort or expense.
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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: James F. Etter, (303) 205-7870.
(2) Have all other period 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). [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 of 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 estimates that it will incur a loss from operations of
approximately $317,000, or approximately $.21 per share, during the year
ended December 31, 1998 as compared to a loss from operations of $120,452,
or $.09 per share, for the year ended December 31, 1997. The loss from
operations for 1998 includes a charge of approximately $321,000 related to
prepayment penalties and other costs in connection with the refinancing of
indebtedness secured by the Registrant's properties for extended periods at
lower interest rates. The Registrant also estimates that it had funds from
operations of approximately $755,000, or approximately $.49 per share, for
the year ended December 31, 1998 as compared to funds from operations of
$449,855, or $.32 per share, for the year ended December 31, 1997. Funds
from operations increased as a result of the Registrant's purchase of 15
properties during June, July and August of 1998 and as a result of
inclusion in operations for the full year of three properties acquired in
the third quarter of 1997.
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AmeriVest Properties 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, 1999 By: /s/ James F. Etter
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James F. Etter, President
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 person
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)
