SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
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SEC FILE NUMBER
1-14168
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CUSIP NUMBER
Pending
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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: June 30, 2002
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[ ] 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:
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Read attached instruction sheet 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:
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PART I - REGISTRANT INFORMATION
Globix Corporation
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Full Name of Registrant
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Former Name if Applicable
139 Centre Street
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Address of Principal Executive Office (Street and Number)
New York, New York 10013
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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 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;
(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
of 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 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. (Attach extra sheets if needed.)
The Company is in the process of completing an independent appraisal of
the Company's property, plant and equipment in connection with its
implementation of the principles of fresh start accounting set forth in American
Institute of Certified Public Accountants Statement of Position No. 90-7
"Financial Reporting by Entities in Reorganization Under the Bankruptcy Code"
and, consequently, is unable to file its Quarterly Report on Form 10-Q by the
August 14, 2002 deadline.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Gregory P. Leahy, Esq. (212) 334-8500
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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 the answer is no, identify report(s).
|X|Yes |_|No
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(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 financial statements to be presented in our June 30, 2002
Form 10-Q will be presented in accordance with the principles of fresh
start accounting set forth in the American Institute of Certified
Public Accountants Statement of Position No. 90-7, "Financial Reporting
by Entities in Reorganization Under the Bankruptcy Code" ("SOP No.
90-7"). As a result of the application of fresh start accounting under
SOP No. 90-7 at April 25, 2002 (the effective date of the Company's
emergence from bankruptcy), the Company's financial results for the
period ended June 30, 2002 will include two different bases of
accounting and, accordingly, the operating results and cash flows of
the Successor Company (as defined below) and the Predecessor Company
(as defined below) will be separately disclosed. For the purposes of
the financial statements for periods prior to the Company's emergence
from bankruptcy on April 25, 2002, the Company will be referred to as
the Predecessor Company. For the purposes of the financial statements
for periods subsequent to the Company's emergence from bankruptcy on
April 25, 2002, the Company will be referred to as the Successor
Company. The Successor Company's financial statements will not be
comparable to the Predecessor Company's financial statements.
As a result of changes to the carrying value of our tangible
and intangible assets in connection with the application of SOP No.
90-7, an estimate of the impact on our results cannot be made without
an appraisal of these assets.
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Globix Corporation
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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: August 14, 2002 By: /s/ Peter K. Stevenson
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Name: Peter K. Stevenson
Title: President and Chief Executive Officer
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).