UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Commission File Number 0-25970
NOTIFICATION OF LATE FILING
(Check One):
|X| Form 10-K |_| Form 11-K |_| Form 20-F |_| Form 10-Q |_| Form N-SAR
For Period Ended:
[ ] 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
CONSOLIDATED ECO-SYSTEMS, INC.
- --------------------------------------------------------------------------------
Full Name of Registrant
EXSORBET INDUSTRIES, INC.
- --------------------------------------------------------------------------------
Former Name if Applicable
4924 Lakeland Drive - Suite 200
- --------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Jackson, Mississippi 39208
- --------------------------------------------------------------------------------
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, 20-F, 11-K or N-SAR, or portion thereof, will be filed on
or before the 15th 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
|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 Form 10-K, 11-K, 20-F, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
The Registrant is awaiting receipt from third parties of certain
information and documentation necessary for completion of its audit for the year
ended December 31, 1996.
<PAGE>
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Kenneth S. Rose, Esq. (212) 838-5030
- --------------------------------------------------------------------------------
(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 operation for
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.
CONSOLIDATED ECO-SYSTEMS, 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 3/31/97 By /s/ Edward L. Schrader
----------------------- ----------------------------------------
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)
<PAGE>
PART IV - Item 3
- ----------------
The Registrant anticipates reporting a net loss of approximately $4
million for the fiscal year ended December 31, 1996 as compared to net income of
approximately $700,000 for the prior year period.
<PAGE>
MOORE STEPHENS FROST
CERTIFIED PUBLIC ACCOUNTANTS
March 31, 1997
Mr. James J. Connors, Jr., President
Consolidated Eco-Sys
<PAGE>
MOORE STEPHENS FROST
CERTIFIED PUBLIC ACCOUNTANTS
March 31, 1997
Mr. James J. Connors, Jr., President
Consolidated Eco-Systems, Inc.
4294 Lakeland Drive, Suite 200
Jackson, MS 39208
Re: 1996 Year-end Audit
Dear Mr. Connors:
This letter is to advise you that Moore Stephens Frost will be unable to
complete your 1996 year end audit by March 31, 1996. The delay was occasioned by
the inability to obtain information and documentation caused by your recent
personnel changes. While we realize that current management has worked
diligently with us in providing information, several items beyond their control
are still pending.
We understand that your staff has requested all of the information that we
desire and we anticipate the receipt of the information in the near future.
However, until all of the information is received, despite our and the Company's
diligent efforts, the year end audit cannot be completed.
We anticipate that the audit will be completed in sufficient time to permit
filing of the Company's Annual Report on Form 10-K on or before the fifteen
calendar day following the prescribed due date.
Yours very truly,
MOORE STEPHENS FROST
By: /s/ Dennis G. Cooper
-----------------------
Dennis G. Cooper
