Securities and Exchange Commission
Washington, DC 20549
Form 12b-25
Commission File Number 0-12293
NOTIFICATION OF LATE FILING
(Check one): Form 10-K Form 11-K Form 20-F Form 10-Q Form N-SAR
For Period Ended: March 31, 1999
Transition Report on Form 10-K Transition Report on Form 10-Q
Transition Report on Form 20-F Transition Report on Form N-SAR
Transition Report on Form 11-K
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 Canisco Resources, Inc.
Former name if applicable
Address of principal executive office (Street and number)
300 Delaware Avenue, Suite 714
City, state and zip code Wilmington, Delaware 19801
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.)
(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, 20-F, 11-K or Form N-SAR, or portion thereof will be
X 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, 11-K, 20-F,
10-Q, N-SAR or the transition report thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
During the Registrant s quarter ended March 31, 1999, the Registrant
terminated a Securities Purchase Agreement, dated October 16, 1998 with Mellon
Ventures, L.P. and Morse Partners, Ltd. and then negotiated and subsequently
entered into a Securities Purchase Agreement dated April 16, 1999 with SCC
Investment I LP. and Sterling City Capital LLC. In addition, the Registrant
integrated the operations of Mansfield Industrial Coatings, Inc. which was
acquired earlier in the fiscal year. The Registrant is a small company and
the resources devoted to the negotiation of the agreement with Sterling City
Capital and the finalization of other year end accounting and reporting
matters have resulted in the Registrant being unable to compile all the
information necessary to complete its Form 10-K. As a result, the
Registrant is filing this notification and will file the Form 10-K within the
time period permitted by rule 12b-25 under the Securities Exchange Act of
1934.
The Registrant will attempt to file the subject Annual Report on Form 10-
K on or before the 15th calendar day following the prescribed due date for
such report or as soon thereafter as reasonably practicable.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Carl W. Schneider, Esquire (215) 977-2226
(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.
Due to the resource constraints, as described above, the Registrant is
unable to definitively determine its results of operations at this time.
Management currently estimates that revenue for the year will be substantially
higher than last year. However, net income, if any, is expected to be
significantly less than last year.
Canisco Resources, Inc.
(Name of Registrant as Specified in Charter)
Has cause this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date June 30, 1999 By /s/ Ralph Trallo
Name: Ralph A. Trallo
Title: President
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).
