SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
Notification of Late Filing
Commission File Number 000-22329
(Check one)
|X| Form 10-K and Form 10-KSB |_| Form 11-K
|_| Form 20-F |_| Form 10-Q and Form 10-QSB |_| Form N-SAR
For period ended June 30, 1998
|_| 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 ____________
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: PowerTrader, Inc.
Address of principal executive office: 885 Dunsmuir Street, Suite 591
City, state and zip code: Vancouver, B.C. V6C 1N5
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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 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 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
The Company is unable to timely file its Annual Report on Form 10-KSB
for the year ended June 30, 1998 because the Company (a) is currently without
sufficient liquidity to allow its independent auditors, BDO Dunwoody, Chartered
Acccountants, to complete their audit of the Company's financial statements for
the year ended June 30, 1998 prior to the expiration of the 90 day period during
which the Company is required to file such report under the regulations
promulgated pursuant to the Securities Exchange Act of 1934, as amended, and (b)
has undergone recent changes in corporate management which has made it difficult
to coordinate the audit process in a timely fashion.
Part IV
Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Michael C. Withrow (604) 685-1529
(Name) (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).
|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?
|_| Yes |X| No
PowerTrader, Inc. has caused this notification to be signed on its
behalf by the undersigned thereunto duly authorized.
Date September 29, 1998 By: /s/ Michael C. Withrow
Michael C. Withrow, Chairman, CEO and
President
