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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-K and Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q and
[ ] Form 10-QSB
For Period Ended: December 31, 1997
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[ ]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:
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Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I-REGISTRANT INFORMATION
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Full Name of Registrant: UNIDYNE Corporation
Address of Principal Executive Office:
118 Pickering Way
Suite 104
Exton, PA 19341
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PART II-RULES 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, 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.
PART III-NARRATIVE
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
The Company maintains a small accounting staff. In prior years, principal
responsibility for preparation of the Company's Form 10-K, including both the
narrative portion and financial statements, has been assigned to the Company's
Chief Financial Officer. In September 1997, the Company's Chief Financial
Officer left the Company. An interim financial officer served during a portion
of the fourth quarter. The Company initiated a search for individuals qualified
for the Chief Financial Officer's role. A senior financial candidate was
identified, began serving in late March 1998 and has focused on the preparation
of the Form 10-K. Due to his recent assumption of his role, additional time is
required to validate facts and assure the accuracy of the Company's Form 10-K.
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PART IV-OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
C. Eugene Hutcheson (610) 363-8237
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(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?
[ ] 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.
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The registrant has caused this notification to be signed on its behalf by
the undersigned thereunto duly authorized.
UNIDYNE CORPORATION
By: /s/ C. Eugene Hutcheson
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Name: C. Eugene Hutcheson
Title: Chairman, Chief Executive
Officer and President
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