SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number: 0-28720
NOTIFICATION OF LATE FILING
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(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: December 31, 1998
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:__________________________
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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.
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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
Part I. REGISTRANT INFORMATION
Full name of registrant: Sales Online Direct Inc.
Former name if applicable: Securities Resolution Advisors, Inc.
4 Brussels Street
Address of principal executive office (Street and number)
Worcester, Massachusetts 01610
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 expenses and the registrant seeks relief pursuant to Rule 12b-25, 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 Form 10-K, 20- F, 11-K or Form N-SAR, or portion
thereof will be filed on or before the 15th
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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.
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 could
not be filed within the prescribed time period.
(Attached extra sheets if needed.)
On February 24, 1999, the registrant sold the business of its wholly-owned
subsidiary, Securities Resolution Advisors, Inc. a New York corporation. On
February 25, 1999, the registrant purchased all of the outstanding stock of
Internet Auction, Inc., a Massachusetts corporation. In connection with both
transactions, the registrant is required to make numerous adjustments with
respect to its financial statements and other information set forth in its
Annual Report for the fiscal year ended December 31, 1998 The registrant has not
completed all work in connection with these adjustments.
Part IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard
to this notification:
Gregory Rotman 508 753-0945
(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 operation from the corresponding period for the last 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 applicable, state the reason why a
reasonable estimate of the results cannot be made.
SALES ONLINE DIRECT INC. has caused this notification to be signed on its behalf
by the undersigned thereunto duly authorized.
Date: March 31, 1999 By: /s/ Gregory Rotman
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Gregory Rotman
President
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Sales Online Direct Inc
Commission File Number: 0-28720
Form 12b-25 (Notification of Late Filing) Form 10-K for the fiscal year ended
December 31, 1998
Explanation to Part IV, Item 3
Due to the change in the nature of the business of the registrant, it is
anticipated that a significant change in the results of operations from the
corresponding period for the last year will be reflected in the earnings
statements to be included in the subject report. The registrant has not
completed all work in connection with these adjustments.
C77151b.636
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