U.S. SECURITIES AND EXCHANGE COMMISSION +-------------+
WASHINGTON D.C. 20549 | OMB Number |
| 3235-0058 |
FORM 12b-25 | expires |
NOTIFICATION OF LATE FILING | 01/31/2002 |
| |
| SEC File # |
| 0-26799 |
| CUSIP # |
| |
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check box
Form 10-K [X] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: March 31, 2001
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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 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.
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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
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Full Name of Registrant:
Universal Broadband Networks, Inc.
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Former Name if Applicable
IJNT.net, Inc.
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Address of Principal Executive Office (Street and Number)
2030 Main Street, Suite 550
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City, State, Zip Code
Irvine, CA 92614
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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, will be
[XX] 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 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.
It is not possible for the Registrant to file its March 31, 2001 Form 10-K
within the prescribed time period for the following reasons:
1. On October 31, 2000 (the "Petition Date"), Universal Broadband
Networks, Inc. and four of its wholly-owned subsidiaries (collectively
the "Company")filed a petition for relief (the "Petition") under
Chapter 11 of the United States Bankruptcy Code.
2. Since the Petition Date, the Company has conducted limited activities
as a debtor-in-possession under the Bankruptcy Code and retains only a
limited number of key personnel. Due to such reduced staff, the
Registrant was unable to complete timely its financial statements
without unreasonable effort or expense.
3. As a result of the filing of the Petition, the Company's former
independent certified public accounting firm resigned and a new
independent certified public accounting firm (the "New Accounting
Firm") was retained in December 2000. In conjunction with SEC
regulations, the Company needs to obtain the manually signed audit
reports from the prior accountants, and is presently coordinating with
the former accounting firm to approve the March 31, 2001 10-K and
obtain the necessary signatures. Such approval and signature could not
be obtained without unreasonable effort or expense.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Brandon Powell 949 260-8108
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(Name) (Area Code) (Telephone No.)
(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?
[ ]Yes [x]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.
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Universal Broadband Networks, Inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: June 29, 2001 By: /s/ Brandon Powell
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Brandon Powell, Executive Vice President
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.