SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
SEC FILE NUMBER 0-12531
CUSIP NUMBER (Common Stock) 464895-10-1
CUSIP NUMBER (Warrants) 464895-11-9
CUSIP NUMBER (Units) 464895-20-0
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K
[X] Form 10-Q and Form 10-QSB [ ] Form N-SAR
For Period Ended: July 31, 1998
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[ ] 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 Isonics Corporation
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Former Name if Applicable N/A
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Address of Principal Executive Office (Street and Number)
20 Great Oaks Blvd., Suite 220
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City, State and Zip Code San Jose, CA 95119
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1.
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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)
[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 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
[X] (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 Form
10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or
portion thereof could not be filed within the prescribed period.
The Registrant recently completed the acquisition of
Chemotrade GmbH and subsidiary ("Chemotrade") in July 1998.
The Registrant's financial results for the quarter ended July
31, 1998, will include Chemotrade. The financial statements of
Chemotrade are currently being audited and the consolidated
financial statements for the Registrant for the quarter ended
July 31, 1998 cannot be completed until such audit is
completed. Because of the efforts required in the integration
of Chemotrade and converting its accounting records from
German to United States generally accepted accounting
principles, a substantial portion of management's attention
and limited resources have been consumed; therefore, the
Registrant was not able to complete the preparation of its
quarterly report on Form 10-QSB for the period ended July 31,
1998 without unreasonable effort and expense.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Paul Catuna (408) 350-0660
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(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 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
2.
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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 that the results of
operations to be reported in its Form 10-QSB for the quarter
ended July 31, 1998 will reflect significant changes in its
results of operations from the quarter ended July 31, 1997.
The results of operations will reflect the combined operations
of Isonics Corporation and its wholly owned subsidiaries
International Process Research Corporation, which was acquired
on April 30, 1998 and Chemotrade GmbH and subsidiary, which
was acquired effective May 29, 1998. As Isonics Corporation's
management has not completed their consolidation and review of
the combined financial information, a reasonable estimate of
the results cannot be made at this time.
Isonics Corporation
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(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
DATE: September 14, 1998 BY: /s/ James Alexander
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James Alexander
President and Chief Executive Officer
3.
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Exhibit 12b-25(c)
September 14, 1998
Mr. Paul Catuna
Chief Financial Officer
Isonics Corporation
20 Great Oaks Blvd., Suite 220
San Jose, CA 95119
Dear Mr. Catuna:
We have read the statements of Isonics Corporation
contained in Part III of Form 12b-25 in regards to the reasons
for the inability of the Company to file its Form 10-QSB for
the quarter ended July 31, 1998 by the prescribed date. We
affirm that the reasons stated prevent us from furnishing our
opinion on Chemotrade GmbH.
GRANT THORNTON LLP
4.
