Startec Notice of Late Filing for Q1 2002
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
COMMISSION FILE NUMBER 0-23087
NOTIFICATION OF LATE FILING
(CHECK ONE): / /Form 10-K / /Form 20-F / /Form 11-K / X /Form 10-Q / /Form N-SAR
For Period Ended: March 31, 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 INSTRUCTION (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
Startec Global Communications Corporation
-------------------------------------------------------------------------------
Full Name of Registrant
Not Applicable
-------------------------------------------------------------------------------
Former Name if Applicable
1151 Seven Locks Road
-------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Potomac, MD 20854
-------------------------------------------------------------------------------
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)
(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,
/X/ 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 Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
On December 14, 2001, Startec Global Communications Corporation ("the
Company") and two of its wholly-owned subsidiaries each filed a voluntary
petition under chapter 11 of the Bankruptcy Code, 11 U.S.C. section 101, et.
seq. It is the Company's intention to continue meeting all of the filing
requirements of the SEC, however resource constraints have limited its ability
to do so in a timely fashion. Additionally, on May 15, 2002, the Company
dismissed it's independent auditors, Arthur Andersen LLP, due to their inability
to complete the audit for the year ended December 31, 2001 and the review for
the three months ended March 31, 2002. The Company has not yet engaged another
independent accountant, but intends to do so as soon as possible. The Company
has filed Monthly Operating Reports with the U.S. Trustee's Office for the post
petition period ending December 31, 2001 and the months ending January 31,
February 28, and March 31 2002 for each of the debtors and intends to file these
documents with the SEC on Form 8-K.
(ATTACH EXTRA SHEETS IF NEEDED)
SEC 1344 (6/94)
PART IV -- OTHER INFORMATION
(1)Name and telephone number of person to contact in regard to this notification
Prabhav V. Maniyar (301) 610-4300
---------------------------------- ----------------- ----------------------
(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). / / Yes / X / No
Annual Report on Form 10-K for the Year Ended December 31, 2001
---------------------------------------------------------------------------
(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 / X/ No*
*No significant changes other than changes in revenues, costs and net
income previously disclosed in FY 2001 Form 10-Q's filed during the year.
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.
-------------------------------------------------------------------------------
Startec Global Communications Corporation
---------------------------------------------------
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date May 16, 2002 By /s/PRABHAV V. MANIYAR
--------------------------------------- ----------------------------
Prabhav V. Maniyar, Chief
Financial Officer