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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number: 0-22413
NOTIFICATION OF LATE FILING OF FORM 10-K
For Period Ended: December 31, 1998
PART I
REGISTRANT INFORMATION
Full name of registrant: UNIVEC, INC.
Former name if applicable: N/A
Address of principal executive office (Street and number)
22 Dubon Court
City, state and zip code: Farmingdale, New York 11735
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.)
|X| (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 will be filed on or
before the 15th 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.
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PART III
NARRATIVE
The Registrant's principal accountant resigned on March 22, 1999,
therefore the Registrant is unable to file its Form 10-K for the period
ended December 31, 1998 within the prescribed time period without
unreasonable effort and expense.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Joel Schoenfeld 516 777-2000
(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
Product sales for the fiscal year ended December 31, 1998, increased to
approximately $1,845,000 from $744,751 in the prior year, while total revenues
for 1998, which consisted only of the approximately $1,845,000 in product sales,
decreased from total revenues of $2,428,539 in 1997, which included $1,683,788
of income on supply and licensing agreements. The net loss applicable to common
stockholders for the year ended December 31, 1998, was approximately $1,920,000
compared with $1,325,973 for the prior year.
UNIVEC, INC.
(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: April 8, 1999 By: /s/ Joel Schoenfeld
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Chief Executive Officer
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