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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC File Number: 0-28868
NOTIFICATION OF LATE FILING
(Check One) / / Form 10-K / / Form 20-F / / Form 11-K /X/ Form 10-Q / /
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:
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READ ATTACHED INSTRUCTION SHEET BEFORE PREPARING FORM. PLEASE PRINT OR TYPE
Nothing in the 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:
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PART I - REGISTRANT INFORMATION
Full Name of Registrant: Leading Edge Packaging, Inc.
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Former Name if Applicable
Address of Principal Executive
Office (Street and Number): Empire State Building, 350 Fifth Avenue, Suite 3922
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City, State and Zip Code: New York, NY 10018
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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 appropriate box)
(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, 11-K, Form N-SAR, or portion
[ X ] thereof, will be filed on or before the fifteenth calendar day
following the prescribed due date; or the subject quarterly
report of 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 the Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed with the
prescribed time period:
For purely logistical reasons, the Company was unable to complete the
Edgar filing of its Quarterly Report on Form 10-Q by the end of business on
February 16, 1999. The Company is current with respect to all prior
"reporting requirements" and is diligently endeavoring to complete the filing
of its 10-Q in as expeditious a manner as possible in light of the
circumstances described above. The Company, therefore, requests an extension
within which to file its Form 10-Q for the three months ended December 31,
1998 of five calendar days following the prescribed due date as indicated in
Part II (b) of the Form 12b-25, although the Company expects to complete
filing of its Form 10-Q by February 17, 1999.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Casey K. Tjang (732)225-6868
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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 reports been
filed? If 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.
LEADING EDGE PACKAGING, INC. has caused this notification to be signed on
its behalf by the undersigned hereunto duly authorized.
Date: February 16, 1999 By: /s/ Casey K. Tjang
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Casey K. Tjang, President and Chief
Financial Officer (Principal
Accounting Officer)
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ATTACHMENT
Question (3) of Item IV:
Net sales for the nine and three months ended December 31, 1998 were
approximately $5,628,000 and $1,437,000, respectively, reflecting a $3,415,000
or 75% decrease from approximately $9,043,000 and a $1,825,000 or 56% decrease
from approximately $3,262,000 for the same period ended December 31, 1997. Loss
for the third quarter ending December 31, 1998 represents a loss of $1.74 per
share or a loss of $1.70 per share for the nine-month period ended December 31,
1998.
The decline resulted from significant losses for the period ended December
31, 1998 due to a sudden disruption of production at, and delivery of
merchandise from, the Company's China joint venture, during the 1998 holiday
season. Management has taken measures to safeguard and preserve the Company's
business viability and to continue to serve its customers. The Company has
established a new production facility in China and has resumed production of its
products at that facility. The Company expects the new facility to be fully
operational by the end of March 1999.
