SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12B-25
Commission File Number 0-5223
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-KSB
[ ] Form 11-K
[ ] Form 20-F
[ ] Form 10-QSB
[ ] Form N-SAR
For Period Ended: June 30, 1998
[ ] 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: CutCo Industries, Inc.
Former name if applicable: N/A
Address of principal executive office (Street and number):
6900 Jericho Turnpike
Syosset, New York 11791
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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 appropriate box.)
[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-KSB, 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-QSB, 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-KSB,
11-K, 20-F, 10- QSB, N-SAR or the transition report (or portion thereof) could
not be filed within the prescribed time period. (Attach extra sheets if needed.)
Effective April 30, 1998, the Chief Financial Officer of the
Company resigned. While the Company is pursuing candidates to serve as
controller of the Company, Marvin W. Marcus, Chairman of the Board of Directors
of the Company, is fulfilling, in addition to his other duties and obligations,
certain of the duties previously performed by the Chief Financial Officer. This
change in management, together with a change in the Company's indepedent
auditors, created unavoidable delays in locating and verifying financial data
and other information required to prepare the Company's Form 10-KSB. As the
result of these circumstances, the Registrant's annual report on Form 10-KSB
could not be filed without unreasonable effort and expense by the prescribed due
date.
<PAGE>
Part IV. Other Information
1. Name and telephone number of person to contact in regard to
this notification:
Marvin W. Marcus, Chairman of
the Board and Acting Chief Financial Officer (516) 677-0320
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(Name) (area code) (Tel. No.)
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?
[ ] 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. (See Exhibit A for
explanation.)
CUTCO INDUSTRIES, INC.
(Name of Registrant as specified in this charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: September 25, 1998 By: s/Marvin W. Marcus
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Marvin W. Marcus, its
Chairman of the Board and
Acting Chief Financial Officer
