0-17174
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Commission File Number
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[x] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: March 31, 2003
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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: N/A
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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:
N/A ___
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Part I-Registrant Information
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Full Name of Registrant:
Hauser, Inc.
Former Name if Applicable:
N/A
Address of Principal Executive Office (Street and Number):
840 Apollo Street, Suite 209
City, State and Zip Code
El Segundo, California 90245
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Part II-Rules 12b-25 (b) and (c)
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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
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.
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Part III-Narrative
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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 April 1, 2003, Hauser, Inc., a Delaware corporation (the "Company"), and
its wholly owned subsidiaries, filed voluntary petitions for relief under
Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code") in the
United States Bankruptcy Court for the Central District of California (the
"Bankruptcy Court") (Case Nos. LA 03-18788-BB, LA 03-18795-BB, LA 03-18798-BB,
and LA 03-18802-BB). Pursuant to a Bankruptcy Court order dated April 8, 2003,
the four cases are being jointly administered under Case No. LA 03-18788-BB.
By letter to the Securities and Exchange Commission (the "Commission")
dated May 6, 2003, as further revised June 11, 2003, the Company requested
modification of its reporting obligations under the Securities Exchange Act of
1934, as amended (the "Exchange Act"), pursuant to the Securities Exchange Act
Release No. 9660 (June 30, 1972) and the Commission's Staff Legal Bulletin No. 2
(April 15, 1997) (the "No-Action Request Letter"). Pursuant to the No-Action
Request Letter, the Company requested that the Commission allow it, while its
Chapter 11 case was pending, to file under cover of Form 8-K copies of the
monthly financial reports that are required to be filed with the Office of the
United States Trustee (the "Trustee") pursuant to Bankruptcy Rule 2015 and the
Trustee's Financial Reporting Requirements for Chapter 11 Cases (the "Trustee's
Reports") in lieu of continuing to file quarterly and annual reports under
Section 13(a) of the Exchange Act. In addition, because these Trustee's Reports
are not readily available in an electronic format, the Company requested, by
separate letter dated May 6, 2003, a continuing hardship exemption from EDGAR
filing pursuant to Rule 202 of Regulation S-T. On May 15, 2003, the Commission
granted the Company's request for a continuing hardship exemption conditioned
upon the grant of no-action relief, as requested by the Company in the No-Action
Request Letter. As of June 30, 2003, the Commission had not granted or denied
the Company's request for no-action relief.
The Form 10-K for the fiscal year ended March 31, 2003 for the registrant
could not be filed within the prescribed period because of the burdens Hauser's
Chapter 11 case has imposed on Hauser's available human and financial resources.
Such inability could not have been eliminated by the registrant without
unreasonable effort or expense.
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Part IV-Other Information
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(1) Name and telephone number of person to contact in regard to this
notification
Thomas W. Hanlon (310) 648-7881
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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
(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.
Hauser, 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: July 1, 2003 By: /s/ Kenneth C. Cleveland
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Name: Kenneth C. Cleveland
Title: Chief Executive 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)