UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File Number
000-21609
Cusip Number
161635 10 7
(Check One): __ Form 10-K __ Form 20-F __ Form 11-K
X Form 10-Q __ Form N-SAR
For Period Ended: June 30, 1997
[ ] 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 ____________________
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
CHASE PACKAGING CORPORATION
Former Name if Applicable
N/A
_________________________________________________________________
Address of Principal Executive Office (Street and Number)
2550 N.W. Nicolai Street
City, State and Zip Code
Portland, OR 97210
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;
X (b) The subject annual report, semi-annual report,
transition report on Form 10-K, Form 20-F, 11-K, 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 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 within the prescribed time period. (Attach Extra
Sheets If Needed)
As reported by the Company on Form 8-K filed with the Commission on
July 31, 1997, the Company has notified its creditors that it has
determined to begin an orderly liquidation of all the Company's
remaining assets outside of a formal bankruptcy or receivership
proceeding in a manner that is intended to maximum the asset
values. The Company's Board of Directors has determined that it is
in the best interests of the Company and all of its creditors to
liquidate in an orderly fashion. In this regard, effective July
21, 1997, the Company sold the Company's Idaho Falls, Idaho
operations and intends to sell the Idaho Falls facility in the near
future. Additionally, the Company is preparing for an auction to
be held on Thursday, August 14, 1997, at which the Company intends
to auction 90% of the remaining equipment, machinery, and office
equipment located at the Company's Portland, Oregon facility.
Accordingly, the Company has and is devoting substantial resources
in preparation for and effectuating the liquidation, which has
impaired the Company's ability to prepare its Form 10-QSB for the
quarterly period ended June 30, 1997. In addition, in light of the
ongoing liquidation, it is not possible to accurately describe the
status of the Company's operations at present. However, the
Company anticipates being able to do so and to prepare and file its
10-QSB by August 30, 1997.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Vernon E. Rew, Jr. (817) 878-6307
(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 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?
____ Yes X 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.
CHASE PACKAGING CORPORATION
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: August 13, 1997 By: /s/ DOUG KIRKPATRICK
Doug Kirkpatrick, President
H:\DOCS3\C5541\001\68775.1
