U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K and Form 10-KSB [ ] Form 11-K
[ ] Form 20-F [X] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period ended October 31, 1997
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[ ] Transition Report on Form 10-K and Form 10-KSB [ ] Transition Report on Form
20-F [ ] Transition Report on Form 11-K [ ] Transition Report on Form 10-Q and
Form 10-QSB [ ] 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 I
REGISTRANT INFORMATION
Full name of registrant Gateway Data Sciences Corporation
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Former name if applicable
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Address of principal executive office (Street and Number)
3410 E. University Drive, Suite 100
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City, State and Zip Code Phoenix, Arizona 85034
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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 appropriate box)
[X] (a) The reasons described in reasonable detail in Part III of this
form could not be eliminated without unreasonable effort or expense;
[X] (b) The subject annual report, semi-annual report, transition
report on Forms 10-K, 10-KSB, 20-F, 11-K or Form N-SAR, or 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, 10-QSB, 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
Subsequent to October 31, 1997, the Company's management has devoted
their efforts to addressing various problems with respect to the Company's
ongoing operations, including efforts to obtain additional financing. As a
result, the Company's Form 10-QSB for the quarter ended October 31, 1997 cannot
be filed within the prescribed time period without unreasonable effort or
expense.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Vickie B. Jarvis (602) 968-7000
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(Name) (Area Code) (Telephone Number)
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(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?
[X] 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.
The Company's net income and earnings per share for the three-month and
nine-month periods ended October 31, 1997 will be significantly lower than the
three-month and nine-month periods ended October 31, 1996 as a result of lower
sales of software and higher operating expenses, and extraordinary expenses
associated with raising capital and the Company's continued cash flow
difficulties.
Gateway Data Sciences Corporation
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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 December 15, 1997 By /s/ Vickie B. Jarvis
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Vickie B. Jarvis
Vice President - Finance
