-----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, Tf3sbCZeDXCz2z9ZHuAe+flAHt9ajwzSbSnFQHnvtj/E6Fi1IEoc5bngA6pTIRce pL3DBkz+iJEtJwQ0lhlPYg== 0000912057-00-015671.txt : 20000403 0000912057-00-015671.hdr.sgml : 20000403 ACCESSION NUMBER: 0000912057-00-015671 CONFORMED SUBMISSION TYPE: NT 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20000331 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EBIX COM INC CENTRAL INDEX KEY: 0000814549 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 770021975 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NT 10-K SEC ACT: SEC FILE NUMBER: 000-15946 FILM NUMBER: 591341 BUSINESS ADDRESS: STREET 1: 3501 ALGONQUIN RD STREET 2: STE 500 CITY: ROLLING MEADOWS STATE: IL ZIP: 60008 BUSINESS PHONE: 8475063100 MAIL ADDRESS: STREET 1: 3501 ALGONQUIN ROAD CITY: ROLLING MEADOWS STATE: IL ZIP: 60008 FORMER COMPANY: FORMER CONFORMED NAME: DELPHI INFORMATION SYSTEMS INC /DE/ DATE OF NAME CHANGE: 19920703 NT 10-K 1 NT 10-K U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12b-25 NOTIFICATION OF LATE FILING SEC FILE NUMBER 0-15946 CUSIP NUMBER 278715107 (Check One): /X/ Form 10-K / / Form 20-F / / Form 11-K / / Form 10-Q / / Form N-SAR For Period Ended: DECEMBER 31, 1999 [ ] 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 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 Items to which the notification relates: PART I - REGISTRANT INFORMATION Full Name of Registrant: ebix.com, Inc. Former Name if Applicable: DELPHI INFORMATION SYSTEMS, INC. Address of Principal Executive Office: 3501 Algonquin Road City, State and Zip Code: Rolling Meadows, Illinois 60008 PART II - RULES 12b-25 (b) and (c) If the subject report could not be filed without unreasonable efforts 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; /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 /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, 20-F, 11-K, 10-Q, N-SAR, or the transition report or portion thereof could not be filed within the prescribed period. The Company will be unable to timely file its Form 10-K for the year ended December 31, 1999. In preparing its response to certain revenue recognition issues raised by the staff of the Securities and Exchange Commission's Division of Corporate Finance under SOP 97-2 (regarding revenue recognition for software licenses) with respect to the Company's financial statements for the transition period ended December 31, 1998, the Company has consulted with Arthur Andersen, the auditor of its 1998 transition period financial statements. Arthur Andersen has advised the Company that it has now concluded that (i) $259,000 of 1998 revenues from Canadian cd.global contracts should not have been recognized, (ii) the other software contracts should be reaudited and (iii) the Company's 1998 transition period financial statements should be restated to reverse such Canadian contract revenues and that additional work is required to determine whether or to what extent the revenues from such other software contracts should be reversed. Such reversal of 1998 revenues will decrease 1998 earnings by substantially the amount of the reversed revenue, but is expected to either increase 1999 revenues or diminish reserves and write-offs that the Company would otherwise require in 1999, thus decreasing the loss that the Company would otherwise report for the fiscal year ended December 31, 1999. The Company intends to retain Arthur Andersen to proceed with the reaudit, and the Company's 1998 financial statements and the related report of independent accountants cannot be republished or relied upon until that work is completed and the 1998 transition period financial statements are restated. Accordingly, the Company cannot file its annual report on Form 10-K for the year ended December 31, 1999, on or prior to March 30, 2000, without unreasonable effort and expense. SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS UNDER THE SECURITIES LITIGATION REFORM ACT OF 1995 - This Form 12b-25 Notice contains various forward-looking statements and information that are based on management's beliefs as well as assumptions made by and information currently available to management, including statements regarding future economic performance and financial condition, liquidity and capital resources. Such statements are subject to various risks and uncertainties which could cause actual results to vary materially from those stated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, expected or projected. Such risks and uncertainties include the timing, progress, and outcome of the reaudit of the 1998 transition year financial statements. Certain other risks and uncertainties are described in detail in the Company's Registration Statement on Form S-3 filed under the Securities Act of 1933, Registration No. 333-12781, and the Company's periodic filings pursuant to the Securities Exchange Act of 1934. The Company undertakes no obligation to update any such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events or developments. PART IV - OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification. Richard Baum (CFO) (847) 506-3100 -2- (2) Have all other periodic reports required under section 13 or 15(d) of the Securities and 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? / / 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. [FOR THE REASONS STATED IN PART III, THE COMPANY IS UNABLE TO MAKE A COMPARATIVE STATEMENT CONCERNING 1999 AND 1998 RESULTS OF OPERATIONS.] ebix.com, Inc. has caused this notification to be signed on its behalf by the undersigned thereunto duly authorized. Date: March 31, 2000 By: /s/ Richard Baum Chief Financial Officer 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). [ARTHUR ANDERSEN LETTERHEAD] March 31, 2000 U. S. Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 Dear Sir / Madam: We have read the statements about our firm in Part III of the Form 12b-25, Notification of Late Filing, to be filed by ebix.com on March 31, 2000. We agree with those statements. Very truly yours, ARTHUR ANDERSEN -----END PRIVACY-ENHANCED MESSAGE-----