<TABLE>
<CAPTION>
<S> <C>
-----------------------------
NOTIFICATION OF LATE FILING COMMISSION FILE NUMBER
0-10372
(Check One): |X| Form 10-K |_| Form 20-F |_| Form 11-K |_| Form 10-Q |_| Form N-SAR -----------------------------
-----------------------------
CUSIP NUMBER
904 674 10 8
For Period Ended: 12/31/98 -----------------------------
[ ] 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
[ ] Money Market Fund Rule 30b3-1 Filing
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: UNIDYNE CORPORATION
Former Name if Applicable:
Address of Principal Executive Office
Street and Number 118 Pickering Way, Suite 104
City, State and Zip Code Exton, PA 19341
____________________________________________________________________________________________________________________________________
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) [ss. 23.047]. 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;
|_| (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 filing made by a money market fund pursuant to
Rule 30b3-1, 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.
</TABLE>
<PAGE>
<TABLE>
<C> <S>
____________________________________________________________________________________________________________________________________
PART III -- NARRATIVE
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB, 20-F, 11-K, 10-Q, or filing made by a money market fund
pursuant to Rule 30b-3-1 and Form 10-QSB, N-SAR, or the transition report or portion thereof could not be filed within the
prescribed period. (Attach Extra Sheets if Needed)
The Company's auditors resigned on March 26, 1999, reporting to management that certain internal controls were deemed not adequate
to permit reliance for purposes of completing an audit. The Company has instituted measures to correct the internal control issues
and has hired new auditors as of April 14, 1999. The Company will file its Form 10-KSB Annual Report for calendar year 1998 as
promptly as possible.
____________________________________________________________________________________________________________________________________
PART IV--OTHER INFORMATION
<C> <S>
(1) Name and telephone number of person to contact in regard to this notification
Wayne R. Lorgus (610) 363-8237
____________________________________________ _______________________________ _________________________________________________
(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.
UNIDYNE Corporation
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date May 3, 1999 /s/ Wayne R. Lorgus
--------------------------------
Wayne R. Lorgus, President and CFO
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.
</TABLE>
