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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): [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: APRIL 30, 1999
[ ] 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:__________________
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PART I
REGISTRANT INFORMATION
Full Name of Registrant: ISONICS CORPORATION
Former Name if Applicable: N/A
Address of Principal Executive Office (Street and Number): 5906 MCINTYRE STREET
City, State and Zip Code: GOLDEN, COLORADO 80403
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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
[ ] (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 has recently completed its move of its
corporate headquarters to Golden, Colorado, and has replaced
its entire finance and accounting staff in the last quarter of
its fiscal year. Delays associated with these transitions were
unavoidable.
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PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard
to this notification.
BRANTLEY J. HALSTEAD (303) 279-7900
(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
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 earnings
statement to be reported in its Form 10-KSB, for the year ended
April 30, 1999, will reflect significant changes in its results
of operations from the fiscal year ended April 30, 1998. The
earnings statement will report: (i) net revenues increased from
$6.78 in fiscal year 1998 to $16.99 million in fiscal year
1998, and gross margin increased from $2.12 million in fiscal
year 1998 to $3.62 million in fiscal year 1999, in each case
because of the effect of acquisitions made in fiscal year 1999,
and on April 30, 1998; and (ii) net loss increased from $0.12
million in fiscal year 1998, to $2.52 million in fiscal year
1999, primarily because of losses in the isotope and
metallurgical research businesses, corporate restructuring
costs, and increased R&D expenditures.
Isonics Corporation
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
DATE: July 29, 1999 BY: /s/ James Alexander
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James Alexander
President and Chief Executive Officer
