SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Notification of Late Filing
Commission File Number 000-22673
(Check one): ( ) Form 10-K ( ) Form 11-K ( ) Form 20-F (X) Form 10-Q
( ) Form N-SAR
For period ended: June 30, 1999
( ) 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
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
Schick Technologies, Inc.
Full name of registrant
Former name if applicable
31-00 47th Avenue
Address of principal executive office (Street and Number)
Long Island City, New York 11101
City, State and Zip Code
PART II - 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;
|
| (b) The subject annual report, semi-annual report, transition report
| on Form 10-K, 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, 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
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F, 10-Q,
N-SAR or the transition report portion thereof could not be filed within the
prescribed time period.
The registrant's Form 10-Q for the quarter ended June 30, 1999 cannot be filed
within the prescribed time period. To date, the registrant has been unable to
file its Annual Report on Form 10-K for the fiscal year ended March 31, 1999,
and its financial statement for the quarter ended June 30, 1999 cannot be
accurately compiled before its year-end results are finalized.
The registrant's delay in filing its Annual Report on Form 10-K has been
affected by the following: During the course of its year-end audit process, the
registrant became aware that certain previously reported sales transactions may
have been recognized prematurely, or improperly recorded, during interim periods
of fiscal 1999. As a result, the Audit Committee of the registrant's Board of
Directors engaged outside independent counsel to conduct an investigation of the
registrant's revenue recognition and sales practices. That investigation is
expected to be completed shortly. Due to this investigation and its impact upon
the year-end audit process, the completion of the registrant's Annual Report on
Form 10-K has been further delayed.
Once the investigation and year-end audit have been completed, the registrant
intends to promptly file its Annual Report on Form 10-K for the year ended March
31, 1999 and file its Form 10-Q for the quarter ended June 30, 1999 as soon
thereafter as practicable. However, the registrant does not expect to be able to
file its Form 10-Q within the time period contemplated by paragraph (b) of Part
II of this Form 12b-25.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
George C. Rough, Jr. (718) 937-5765, ext. 2114
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) or 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).
( ) Yes (x) No
Registrant has not yet filed its Annual Report on Form 10-K for the year
ended March 31, 1999.
(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 registrant anticipates reporting a decrease in revenues and an increase in
its net loss for the three months ended June 30, 1999 versus the comparable
period of 1998, as a result of decreased sales of registrant's CDR(R) and
accuDEXA(R) products. The registrant reported revenues of $12.4 million in
revenue and a $324 thousand net loss for the quarter ended June 30, 1998.
<PAGE>
SCHICK TECHNOLOGIES, 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 17, 1999 By:
--------------------------------
David B. Schick, President &
Chief Executive Officer
