U.S. Securities and Exchange Commission
Washington, D.C. 20549
FORM 12b-25
Notification of Late Filing
SEC File Number: 0-9347
CUSIP Number: 011612 40 5
(Check One)
For period ending 6/30/99
[ X ] Transition Report on Form 10-K
[ ] Transition Report on Form 20-P
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR
For the transition Period Ended: 6/30/99
Read Attached Instruction Sheet Before Preparing Form. Please Print or
Type.
Nothing in this term 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 notification relates
---entire document--------------------------------------
Part I - Registrant Information
Full Name of Registrant: Alanco Environmental Resources Corp.
Former Name if Applicable:
Address of Principal Executive Office (Street and Number)
15900 North 78th Street, Suite 101
- ------------------------------------------
City, State and Zip Code
Scottsdale, Arizona 85260
- ------------------------------------------
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) [23,047], the following should be completed. (Check box if
appropriate)
(a) The reasons described in responsible 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, Form 20-F, 11-K or Form 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 [Amended in Release No. 34-25590(\72,439), effective
August 13, 1992, 57FR36442.]
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-KSB, 20-F,11-K,10-Q
and Form 10-QSB, N-SAR, or the transition report or portion thereof could not
be filed within the prescribed period. [Amended in Release No. 34-26589
(\72,435) effective April 12, 1989, 54 F.R. 10306; and Release No. 34-30968
(\72.439), effective August 13, 1992, 57 FR 36442.]
Computer failure created difficulty EDGARIZING. Filing will be completed by
September 30, 1999.
PART IV - Other Information
(1) Name and Telephone number of person to contact in regard to this
notification:
John Carlson (480) 607-1010, ext 210
- -------------------------------------------------------------
(Name) (Area) 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 See Attached Comments.
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 attached----------------------------------
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
Alanco Environmental Resources Corp has caused this notification to be signed
on its behalf by the undersigned thereunto duly authorized
Date 09/28/99 By /s/ John Carlson
---------------------------- ----------------------
ALANCO ENVIRONMENTAL RESOURCES CORPORATION
FISCAL YEAR 1999 RESULTS
Alanco Environmental Resources Corporation will report profitable results
for its fiscal year ended June 30, 1999 compared to a substantial prior
year loss. The Company reported net income of $121,300, or $.02 per share,
for its fiscal year ended June 30, 1999, versus a net loss of $6.7 million,
or $1.32 per share, in fiscal year 1998, which included non-recurring asset
write-downs of $7.1 million.
Fiscal 1999 sales decreased 35% to $7.1 million, from $11.0 million in the
prior year, primarily due to loss of the Wal-Mart/Fry Guy contract, which
contributed over 55% of the Company's total revenues in fiscal 1998. The Wal-
Mart contract, which represented 95% of Fry Guy subsidiary sales in 1998,
terminated during the first quarter of fiscal 1999.
Attached is a draft of the consolidated statement of operations for the years
ended June 30, 1999 and 1998.
(table follows)
<TABLE>
<CAPTION>
ALANCO ENVIRONMENTAL RESOURCES CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
For the Twelve Months Ended June 30,
<S> <C> <C>
1999 1998
---------------- ------------------
Total Sales $ 7,084,400 $ 10,975,900
Cost of Goods Sold (3,763,900) (5,099,400)
---------------- ------------------
Gross Profit 3,320,500 5,876,500
General and Administrative (3,201,400) (5,199,500)
---------------- ------------------
Income from operations before impairment 119,100 677,000
Asset Impairment Charges 0 (5,257,800)
---------------- ------------------
Income (loss) from Operations 119,100 (4,580,800)
Other income 2,200 (274,200)
---------------- ------------------
Net income (loss) before discontinued operations 121,300 (4,855,000)
Loss on Discontinued Operations $ 0 $ (1,800,000)
---------------- ------------------
Net Income (loss) $ 121,300 $ (6,655,000)
================ ==================
Earnings Per share - Basic & Diluted* $ 0.02 $ (1.32)
================ ==================
Weighted Average Common Shares
& Equivalents Outstanding*
-Basic 5,016,085 5,050,683
-Diluted 5,575,895 5,050,683
</TABLE>
*(Earnings per share information has been restated to reflect a reverse stock
split which was effected in May of 1998.)
