-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Q13Rj4rkTIXv1SRZYajXaYFmwyhE2thYokdajmIvkZNfAAVkf63qCMMZF2rEnBrB opKCtoo89gs6F8x+ZN2+6Q== 0000313518-02-000024.txt : 20021115 0000313518-02-000024.hdr.sgml : 20021115 20021115172456 ACCESSION NUMBER: 0000313518-02-000024 CONFORMED SUBMISSION TYPE: NT 10-Q PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20020930 FILED AS OF DATE: 20021115 EFFECTIVENESS DATE: 20021115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NBI INC CENTRAL INDEX KEY: 0000313518 STANDARD INDUSTRIAL CLASSIFICATION: GLASS, GLASSWARE, PRESSED OR BLOWN [3220] IRS NUMBER: 840645110 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NT 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-08232 FILM NUMBER: 02830531 BUSINESS ADDRESS: STREET 1: 850 23RD AVENUE STREET 2: SUITE D CITY: LONGMONT STATE: CO ZIP: 80501 BUSINESS PHONE: 3036842700 MAIL ADDRESS: STREET 1: 850 23RD AVENUE SUITE D CITY: LONGMONT STATE: CO ZIP: 80516 NT 10-Q 1 sep0212b.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SEC FILE NUMBER 1-8232 FORM 12B-25 CUSIP NUMBER 628735-20-1 NOTIFICATION OF LATE FILING (Check one): [ ] Form 10-K & Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q & Form 10-QSB [ ] Form N-SAR For Period Ended: September 30, 2002 ------------------ [ ] 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: Read Instructions (on back page) Before Preparing Form. Please Print or Type 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 Full Name of Registrant NBI, Inc. - ---------- Former Name if Applicable N/A - --- Address of Principal Executive Office (Street and Number) 850 23rd Avenue, Suite D - ---------------------------- City, State and Zip Code Longmont, CO 80501 - ---------------------- 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 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, Form 20-F, 11-K, Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the [X] 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 the Form 10-K and Form 10-KSB, 20-F, 11-K, 10-Q and 10-QSB, N-SAR, or the transition report or portion thereof, could not be filed within the prescribed time period. (ATTACH EXTRA SHEETS IF NEEDED.) The Company had to devote a significant amount of time during the quarter ended September 30, 2002 to bank issues resulting in the completion of a forbearance agreement with the bank on August 23, 2002. In addition, the Company was required to devote a significantly greater amount of time and attention than ususal to cash management and other business issues due to its poor financial condition. The Company is filing its Form 10-QSB simultaniously with this form of extension. PART IV - OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification: Marjorie Cogan (303) 684-2700 -------------- ----- -------- (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 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. The Company reported a net loss of $657,000 for the three months ended September 30, 2002, compared to a net loss of $66,000 for the same period in the prior fiscal year. The increased loss was primarily due to a substantial decline in sales revenues. Sales revenues declined $860,000, or 27.4% to $2.3 million for the first quarter of fiscal 2003, from $3.1 million for the first quarter of fiscal 2002. L.E. Smith experienced a substantial decline in revenues during July and August of 2002 compared to the prior year primarily because its bank tightly restricted L.E. Smith's borrowing under its line of credit due to its ongoing overborrowed position until August 23, 2002 when the Company obtained a forbearance agreement from the bank. These cash constraints severely limited L.E. Smith's ability to produce and ship goods during that time period. However, L.E. Smith's revenues in September 2002 were comparable with the same period in the prior fiscal year. The gross margin from sales declined to $16,000 for the first quarter of fiscal 2003 compared to $632,000 for the same period in the prior fiscal year. The decrease was primarily related to the substantial decline in sales volume available to cover fixed costs. NBI, 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: November 15, 2002 By: /s/ Marjorie A. Cogan ----------------- --------------------- 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). -----END PRIVACY-ENHANCED MESSAGE-----