UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC File Number 33-82468
NOTIFICATION OF LATE FILING
(Check One):
[X]Form 10-KSB [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: 12/31/96
| 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: AIM Group, Inc.
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Former Name if Applicable:
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Address of Principal Executive Office (Street and Number)
2001 West Sample Road (Suite 300),Pompano Beach, Florida 33064
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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 box if appropriate)
| (a) The reasons described in reasonable detail in Part III of
[X] | this form could not be eliminated without unreasonable effort
| or expense;
|
| (b) The subject annual report on Form 10-KSB will be filed on
[X] | or before the fifteenth 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
State below in reasonable detail the reasons why the Form 10-KSB could not be
filed within the prescribed time period.
On March 27, 1997, shareholders of AIM Group, Inc. (the "Company") owning
2,200,200 shares of the Company's common stock, representing 55.28% of the
Company's outstanding shares of common stock, delivered signed copies of a
shareholders' consent (the "Consents") calling for changes in the members of
the Board of Directors of the Company, effective immediately. Pursuant to the
Consents, Messrs. Paul R. Arena, James L. Austin, Dr. Audrey L. Braswell, Jr.,
Ernest W. Purcell, Joseph L. Ranzini and Bernard R. Kossar were elected to
serve as members of the Company's Board of Directors and Messrs. D. Michael
Hartley and John W. Johnston were removed from the Board of Directors. Messrs.
Joseph L. Ranzini and Bernard R. Kossar were re-elected as directors.
At a meeting of the newly-elected Board of Directors of the Company held
following delivery to the Company of the Consents on March 27, 1997, Paul R.
Arena was appointed Chairman of the Board and Chief Executive Officer of the
Company, replacing D. Michael Hartley, and Leigh Zoloto was appointed Vice
President, Acting Secretary and Treasurer. Messrs. Iain J. Richmond,
President, and Shawn P. Durant, Vice President- Administration and Secretary,
were placed on paid leave of absence from their positions, pending a review by
the Board of their status as employees. Mr. Arena was appointed to serve as
Acting President.
Because the newly-elected directors and newly-appointed officers of the
Company have not yet been able to review the Company's financial statements
for the year ended December 31, 1996 to be included, and disclosures to be
made, in the Annual Report on Form 10-KSB, it will not be possible to file the
report by March 31, 1997. A Current Report on Form 8-K reporting the above
changes in the Company's management was filed by the Company on March 28,
1997.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Paul R. Arena 954 972-9339
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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 report(s). [X] Yes [ ] No
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(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?
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.
[ ] Yes [X] No
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AIM GROUP, INC.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on behalf by the undersigned
hereunto duly authorized.
Date: March 31, 1997 By: /s/PAUL R. ARENA
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Paul R. Arena
Chairman of the Board and
Chief Executive Officer
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