Arrow Resources Development Inc – ‘10-12B’ on 8/14/03

On:  Thursday, 8/14/03, at 4:49pm ET   ·   Accession #:  914317-3-2466   ·   File #:  1-09224

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Registration of Securities (General Form)   —   Form 10
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-12B      Registration of Securities (General Form)              4     16K 

10-12B
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 FORM 12b-25

 Commission File Number 1-9224

 NOTIFICATION OF LATE FILING

(Check One): __  Form 10-KSB ___  Form 11-K ___ Form 20-F                       
[X] Form 10-Q ___ Form N-SAR                          
For Period Ended:                   June 30, 2003                 
                          ------------------------------------------------------

___  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 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:
______________________________________                                          

PART 1
REGISTRANT INFORMATION

Full name of registrant:  CNE Group, Inc.                                       
                          ------------------------------------------------------
Former name if applicable:                                                      
                           -----------------------------------------------------
Address of principal executive office (street and number)                       
                                                :200 West 57th Street, Suite 507
                                                --------------------------------
City, state and zip code:  New York, NY  10019                                  
                          ------------------------------------------------------

 PART 11
 RULE 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;

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[X]  (b)  The subject annual report,  semi-annual  report,  transition report on
          Form 10-K,  20-F,  11-K or Form N-SAR,  or a portion  thereof  will be
          filed on or before the 15th 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-25c
has been attached if applicable.                            

PART III
 NARRATIVE

     State below in reasonable  detail the reasons why Form 10-KSB,  11-K, 20-F,
10-Q,  N-SAR or the transition  report portion thereof could not be filed within
the prescribed time period. (Attached extra sheets if needed.)                  

     The Company  requires  additional  time to prepare  and file its  Quarterly
Report on Form 10-Q for the three and six month  periods ended June 30, 2003 and
2002 (the "2003 Form  10-Q").  The  Company  filed a Form 8-K on May 6, 2003 and
related  Form 8K/A on July 7, 2003  relating to the  completion  of  significant
acquisitions  and related debt  financing in April of 2003.  These  transactions
have a significant  financial  impact on the Form 10-Q for the period ended June
30, 2003. The Company's  senior  management and those  responsible for preparing
and reviewing  this Form 10-Q have been diverted from devoting the necessary and
appropriate attention to the completion of this filing,  including the Company's
financial statements,  by their required involvement in, and preoccupation with,
the aforementioned  transactions.  The Company expects to file its Form 10-Q for
the period  ended June 30,  2003 no later than  August 19,  2003,  the fifth day
following the prescribed due date.                                              

 PART IV
 OTHER INFORMATION

     (1)  Name and  telephone  number  of person  to  contact  in regard to this
notification                                                

Anthony S. Conigliaro                 212                        977-2200   
--------------------------------------------------------------------------------
         (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  proceeding  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?    

                                                   [X]   Yes       [_]No

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     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.                                         

We reasonably  expect the Net Loss for the six-month  period ended June 30, 2003
to be approximately $910,000 as compared to the Net Income of $3,107,927 for the
six-month period ended June 30, 2002. The reason for the difference  between the
Net Loss for the  six-month  period  ended June 30,  2003 as compared to the Net
Income for the six-month period ended June 30, 2002 can be primarily  attributed
to(i) Income from Discontinued  Operations of $3,712,884 which was due primarily
to a gain  recognized  on the  extinguishment  of debt in January  2002 and (ii)
expenses associated with acquisitions and a private financing completed in April
2003.                                                                           

 CNE Group, Inc.
 ---------------
(Name of Registrant as Specified in Charter)

Has caused this notification to be signed on its behalf by the undersigned      
thereunto duly authorized.                                                      

Date         August 14, 2003      By  /s/ Anthony S. Conigliaro                 
     -----------------------          ------------------------------------------
                 Anthony S. Conigliaro
                                      Vice President and Chief Financial Officer

     INSTRUCTIONS:  This  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.                                                                  

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 ATTENTION

     Intentional  misstatements or omissions of fact constitute Federal Criminal
Violations (see 18 U.S.C. 1001).                                                

GENERAL INSTRUCTIONS

     1.  This  form  is  required  by  Rule  12b-25  of the  General  Rules  and
Regulations under the Securities Exchange Act of 1934.                          

     2.  One  signed  original  and  four  conformed  copies  of this  form  and
amendments  thereto must be completed and filed with the Securities and Exchange
Commission,  Washington,  D.C. 20549, in accordance with Rule G-3 of the General
Rules and Regulations under the Act. The information  contained in or filed with
the form will be made a matter of public record in the Commission files.        

     3. A manually signed copy of the form and amendments thereto shall be filed
with each national  securities  exchange on which any class of securities of the
registrant is registered.                                                       

     4.  Amendments to the  notifications  must also be filed on Form 12b-25 but
need not restate information that has been correctly  furnished.  The form shall
be clearly identified as an amended notification.                               

     5.  ELECTRONIC  FILERS.  This form shall not be used by  electronic  filers
unable to timely file a report  solely due to  electronic  difficulties.  Filers
unable to submit a report within the time period  prescribed due to difficulties
in  electronic  filing  should  comply  with  either  Rule  201 or  Rule  202 of
Regulations S-T or apply for an adjustment in filing date pursuant to Rule 13(b)
of Regulations S-T.                                                             

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘10-12B’ Filing		Date		First		Last			Other Filings
		8/19/03		2					10QSB
Filed on:		8/14/03		3
		7/7/03		2					8-K/A
		6/30/03		1		3			10QSB,  3,  8-K,  8-K/A
		5/6/03		2					8-K
		6/30/02		2		3			10QSB,  4
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