U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Commission File No. 0-18785
CUSIP No. 691384 10 1
(Check One):
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q and Form
10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1995
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-K [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
READ ATTACHED INSTRUCTION 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: Not applicable
PART I -- REGISTRANT INFORMATION
Full Name of Registrant: Oxboro Medical International, Inc.
Former Name, if Applicable:
Address of Principal Executive
Office (Street and Number): 13828 Lincoln Street, N.E.
City, State and Zip Code: Ham Lake, Minnesota 55304
PART II -- RULES 12b-25 (b) AND (c)
If the subject report could not be filed without reasonable 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 or semi-annual report, transition report on
Forms 10-K, 10-KSB, 20-F, 11-K or 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, 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 Forms 10-K, 10-KSB, 11-K, 20-F,
10-Q, 10-QSB or N-SAR, or the transition report or portion thereof could not be
filed within the prescribed time period.
Turnover in key accounting personnel at the end of the Registrant's fiscal year
and a conversion to a new computer system on October 1, 1995, the beginning of
the Registrant's fiscal year, have together caused delays in the production of
accurate accounting information necessary to enable the Registrant to prepare
the Report. In the process of compiling the end of quarter accounting
information, the Registrant encountered a number of delays and, when such
information was provided, there were inaccuracies and errors. Attempts to
complete the Report in a timely manner were further delayed due to the lack of
familiarity of the new personnel with the Registrant's business and comparable
numbers from prior periods and the lack of familiarity of the existing personnel
with the new computer system. The Registrant has determined that the addition of
temporary staff would exacerbate the efforts to complete the report in a timely
manner.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Larry A. Rasmusson (612) 755-9516
(Name) (Area Code)(Telephone Number)
(2) Have all or 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. See explanation below:
The Registrant believes that net income, if any, will be lower than last year as
a result of continuing expenses related to initial development and marketing of
products for the outdoor recreational market.
Oxboro Medical International, 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: February 15, 1996 By /s/ Larry A. Rasmusson
------------------------
Larry A. Rasmusson
Its Chief Financial Officer
