UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Commission File Number 0-25970
NOTIFICATION OF LATE FILING
(Check One):
|_| Form 10-K |_| Form 11-K |_| Form 20-F |X| Form 10-Q |_| Form N-SAR
For Period Ended: September 30, 1998
|_| 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:
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PART I
REGISTRANT INFORMATION
CONSOLIDATED ECO-SYSTEMS, INC.
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Full Name of Registrant
EXSORBET INDUSTRIES, INC.
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Former Name if Applicable
3201 West 65th Street
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Address of Principal Executive Office (Street and Number)
Little Rock, Arkansas 72209
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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;
|_| (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
|_| (c) The accountant's statement or other exhibit required by Rule 12b-25(c)
has been attached if applicable.
<PAGE>
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.
Due to a failure to complete the audit for the year ended December 31,
1997, audited financial information as of December 31, 1997 is unavailable.
Until such audit is completed, financial information for any portion of 1998
cannot be filed. The Registrant is in the process of attempting to complete the
compilation of data, schedules, and other matters necessary for such audit.
Because it will take more than five days to complete the 1997 year end
audit, the Registrant will not be able to file the Form 10-Q within such time
period.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Sam Sexton III (501) 570-0356
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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 answer is no,
identify report(s). |_| Yes No |X|
(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?
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.
<PAGE>
CONSOLIDATED ECO-SYSTEMS, 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
hereunto duly authorized.
Date 11/16/98 By /s/ Sam Sexton III
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Executive Vice-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)
PART IV - Item 3
The Registrant anticipates reporting a net loss for the quarter ended
September 30, 1998 of approximately <$120,000> or approximately <$.002> per
share as compared to net income of $366,183 or approximately $.01 per share for
the quarter ended September 30, 1997. The Registrant anticipates reporting net
income for the nine months ended September 30, 1998 of approximately $380,000 or
approximately $.007 per share as compared to a loss of <$6,195,134> or
approximately <$.14> per share for the nine months ended September 30, 1997. All
figures are stated without provisions for income taxes.
