U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER
33-92894
CUSIP NUMBER
740366 10 9
[ ] Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[X] Form 10-QSB [ ] Form N-SAR For Period
Ended: September 30, 1996
[ ] 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--REGISTRATION INFORMATION
Full Name of Registrant: Preferred/telecom, Inc.
Former Name if Applicable: N/A
Address of Principal Executive Office (Street and Number)
12655 N. Central Expressway, Suite 800
Dallas, Texas 75243
(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)
[X](a)The reasons described in reasonable detail in Part III of this form could
not be eliminated without unreasonable effort or expense;
CORPDAL:57957.2 26287-00001
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[X](b)The subject annual report, semi-annual report, transition report on Form
10-K, 20-F, 11-K, 10-Q or 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 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.
PART III--NARRATIVE
State below in reasonable detail the reasons why annual report, quarterly
report, transition report on Form 10-K, 20-F, 11-K, 10-Q or N-SAR or portion
thereof could not be filed within the prescribed period.
The registrant is unable to file its Quarterly Report on Form 10-QSB for the
quarter ended September 30, 1996 ("Form 10-QSB") on November 14, 1996. The
registrant is in the process of raising additional funds, the success of which
will bear in a material respect on registrant's liquidity and capital resources,
and accordingly, will materially affect the presentation of certain information
in the Form 10-QSB.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Mary Merritt, Vice President-Finance (972) 458-9950
(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
(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?
[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.
See Attachment IV.
[The Rest of this Page is Intentionally Blank]
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Preferred/telecom, Inc.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November 14, 1996 By:/s/ Mary Merritt
----------------
Mary Merritt, Vice President-Finance
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 field with the form.
ATTENTION
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
VIOLATIONS (SEE 18 U.S.C. 1001).
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ATTACHMENT IV
DURING THE PERIOD ENDING SEPTEMBER 30, 1995, THE COMPANY WAS STILL IN THE
DEVELOPMENT STAGE AND HAD SALES OF $14,450 AS COMPARED WITH REVENUES FOR THE
PERIOD ENDING SEPTEMBER 30, 1996 OF $478,910. THE COMPANY DID NOT BEGIN
ENROLLING CUSTOMERS UNTIL AUGUST, 1995. ACCORDINGLY, COST OF SALES FOR THE
PERIOD ENDING SEPTEMBER 30, 1995 WAS $93,851 COMPARED WITH COST OF SALES FOR THE
PERIOD ENDING SEPTEMBER 30, 1996 OF $583,896. TOTAL COSTS AND EXPENSES, SALES,
MARKETING, ADMINISTRATIVE AND INTEREST EXPENSE FOR THE PERIOD ENDING SEPTEMBER
30, 1995 WERE $848,816 AND $1,457,384 FOR THE PERIOD ENDING SEPTEMBER 30, 1996.
NET LOSS FOR THE PERIOD ENDING SEPTEMBER 30, 1995 WAS $928,217 AND $1,562,370
FOR THE PERIOD ENDING SEPTEMBER 30, 1996.
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