U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
(Check One): SEC File Number
|X| Form 10-K and Form 10-KSB [ ] Form 20-F
[ ] Form 11-K [ ] Form 10-Q and Form 10-QSB
[ ] Form N-SAR 0-22969
For Period Ended: August 31, 1999
[ ] Transition Report on Form 10-K CUSIP Number
[ ] 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:
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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.
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates: Not Applicable
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PART I--REGISTRANT INFORMATION
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Full Name of Registrant: PALADYNE.
Former Name If Applicable: SYNAPTX WORLDWIDE, INC.
610 Crescent Executive Ct., Suite 124, Lake Mary, Florida 32746
Address of Principal Executive Office (Street and Number), City, State and
Zip Code
PART II--RULES 12B-25(B) AND (C)
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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, Form 20-F, 11-K or 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 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.
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PART III--NARRATIVe
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State below in reasonable detail the reasons why Form 10-K and 10-KSB, 20-F,
11-K, 10-Q and 10-QSB, N-SAR, or the transition report or portion thereof could
not be filed within the prescribed period
The corporate offices relocated from Elgin, Illinois to Lake Mary, Florida and
by reason of the relocation there were changes in financial personnel, which has
delayed the preparation of the financial reports.
(Attach Extra Sheets if Needed)
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PART IV--OTHER INFORMATIOn
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(1) Name and telephone number of person to contact in regard to this
notification
Ron Weindruch (407) 333-2488
(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.
PALADYNE
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: November ___, 1999 By: /s/ Ronald L. Weindruch
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Name: Ronald L. Weindruch
Title: President and CEO
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C.) 1001).
SYNAPTX WORLDWIDE, INC.
Attachment to Form 12b-25
Part IV - Item (3)
Registrant expects to report a loss from operations of approximately $3
million for the fiscal year ended August 31, 1998 compared with a loss from
operations of $552,000 for the fiscal year ended August 31, 1997. The major
component for the increase in the loss is the write off of approximately $1.5
million in goodwill related to the Company's Oraycom and Impulse subsidiaries
whose goodwill has been deemed to have been permanently impaired in accordance
with FASB 121.
