<PAGE>
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER
001-12189
(CHECK ONE):
CUSIP NUMBER
451922 10 8
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q and
Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1998
----------------------------
[ ] 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 I--REGISTRANT INFORMATION
Full Name of Registrant: Image Guided Technologies, Inc.
-----------------------------------------------
Former Name if Applicable:
---------------------------------------------
Address of Principal Executive Office (STREET AND NUMBER)
5710-B Flatiron Parkway
-----------------------------------------------------------------------
City, State and Zip Code
Boulder, Colorado 80301
-----------------------------------------------------------------------
<PAGE>
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 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, Form 20-F, Form 11-K or Form N-SAR, or portion thereof will be
filed on or before the fifteenth 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 and Forms 10-KSB,
20-F, 11-K, 10-Q and Forms 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
(Attach Extra Sheets If Needed)
Because of the additional disclosure required as a result of the recent
disposition of certain assets belonging to the Company's wholly-owned
subsidiary of Brimfield Precision, Inc., the Company has not had the time
necessary to complete its Form 10-KSB without unreasonable effort or expense.
Part IV--Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Paul L. Ray (303) 447-0248
-----------------------------------------------------------------------
(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
2
<PAGE>
(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.
Image Guided 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: March 31,1999 By: /s/ Paul L. Ray
------------------- ----------------------------------
Paul L. Ray, President
INSTRUCTION: The 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.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).
3
<PAGE>
EXPLANATION OF ANTICIPATED CHANGE
The Company's Revenue from continuing operations was approximately $7,150,000
for the fiscal year ended December 31, 1998 as compared to $5,713,000 for the
fiscal year ended December 31, 1997. The Company's Income (Loss) from
Continuing Operations Before Taxes is estimated to be a loss in the range of
$1,500,000 to $1,700,000 for fiscal 1998 as compared to income of $260,000
for fiscal 1997. The Company's Net Income (Loss) is estimated to be a loss
in the range of $6,200,000 to $6,400,000 for fiscal 1998 as compared to net
income of $260,000 for fiscal 1997. As previously disclosed, the Company
experienced a loss on the disposal of certain assets of its Brimfield
Precision, Inc. subsidiary of approximately $4,400,000.