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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________
FORM 10-Q/A
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Amendment No. 2
|X| QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2003
OR
|_| TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
Commission File No. 1-14168
Globix Corporation
(Exact name of registrant as specified in its charter)
Delaware 13-3781263
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
139 Centre Street, New York, New York 10013
(address of principal executive offices) (Zip Code)
Registrant's Telephone number, including area code: (212) 334-8500
Indicate by check mark whether registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes |x| No |_|
Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Securities Exchange Act). Yes |_| No |x|
Indicate by check mark whether the registrant has filed all documents and
reports required to be filed by Sections 12, 13 or 15(d) of the Securities and
Exchange Act of 1934 subsequent to the distribution of securities under a plan
confirmed by a court.
Yes |x| No |_|
Number of shares of the Registrant's common stock outstanding as of January
31, 2004 was 16,460,000.
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EXPLANATORY NOTE
This Amendment No. 2 on Form 10-Q is being filed to amend Part I Item 4. of the
Company's Quarterly Report on Form 10-Q for the quarterly period ended December
31, 2003, filed on February 4, 2004 (the "Original 10-Q") as amended by
Amendment No. 1 to the Original 10-Q filed on December 7, 2004 ("Amendment No.
1"). This Amendment No. 2 does not otherwise alter the disclosures set forth in
the Original 10-Q or Amendment No. 1 and does not reflect events occurring after
the filing of the Original 10-Q. This Amendment No. 2 is effective for all
purposes as of the date of the filing of the Original 10-Q.
Item 4. Controls and Procedures
Following the Company's emergence from bankruptcy effective April 25, 2002, the
Company faced many challenging and complex accounting and financial reporting
issues, including fresh start accounting, restructuring and the restatement of
amounts in its financial statements for the quarter ended March 31, 2002. In
addition, the Company experienced significant turnover in its financial
reporting staff, as well as limited management resources. The Company fell
behind in its SEC reporting for the year ended September 30, 2002, and
experienced difficulty in catching up with its filing obligations for the year
ended September 30, 2002 while fulfilling its responsibilities for the year
ended September 30, 2003. The combined effect of these challenges placed a
strain on the Company's internal accounting resources in summer 2003 and
resulted in further delays in the preparation and filing of periodic reports
that were filed in summer 2003. The strain on the Company's internal accounting
resources and the delays in the preparation and filing of periodic reports
created material weaknesses in its accounting and internal control environment
in summer 2003.
In order to resolve the problems described above, the Company hired a new Senior
Accountant in May 2003, a new Controller in July 2003, a new Manager of External
Reporting in October 2003 and a new Senior Accountant in November 2003. In
addition, beginning in January 2004, the Company returned to a normal recurring
closing timetable that includes formal management reviews and a monthly
financial reporting package. Finally, by completing its fiscal 2002 reporting,
the Company significantly reduced the burden on its internal accounting staff.
Based on their evaluation of the Company's disclosure controls and procedures as
of the end of the period covered by this report, the Chief Executive Officer and
Chief Financial Officer have concluded the material weaknesses in the Company's
internal control over financial reporting described above caused the Company's
disclosure controls and procedures to be ineffective and that these material
weaknesses have been addressed through the steps outlined above. Accordingly,
the Chief Executive Officer and Chief Financial Officer have concluded that,
following the implementation of the steps outlined above, the Company's
disclosure controls and procedures were effective to provide reasonable
assurance that information required to be disclosed in the Company's reports
under the Securities Exchange Act of 1934, as amended, is recorded, processed,
summarized and reported within the time periods specified in the rules
promulgated by the SEC and that such information is accumulated and communicated
to management, including the Chief Executive Officer and Chief Financial
Officer, as appropriate, to allow timely decisions regarding required
disclosures. Any controls and procedures, no matter how well designed and
operated, however, can provide only reasonable assurance of achieving the
desired control objectives. Except as noted above, there were no changes in the
Company's internal control over financial reporting that occurred during the
Company's most recent fiscal quarter that materially affected, or are reasonably
likely to materially affect, the Company's internal control over financial
reporting.
Item 6. Exhibits
(a) Exhibits
Exhibit Description
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31.1 Certification of Chief Executive Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
31.2 Certification of Chief Financial Officer pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002
32.1 Certification of Chief Executive Officer pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
32.2 Certification of Chief Financial Officer pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
GLOBIX CORPORATION
Date: January 14, 2005
/S/ PETER K. STEVENSON
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Peter K. Stevenson
President and Chief Executive Officer