SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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NOTIFICATION OF LATE FILING
FORM 10-QSB for the Period Ended September 30, 1998
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Date of Notification: November 16, 1998
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PART I -- REGISTRANT INFORMATION
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Eguity Growth Systems, inc.
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Full Name of Registrant:
1290 North Palm Avenue
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Address of Principal Executive Office (Street and Number)
Sarasota, Florida 34236
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City, State and Zip Code
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PART II -- RULE 12b-25(b) AND (c)
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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;
|_| (b) The subject annual report, semi-annual report, transition report on
Form 10-KSB, Form 20-F, 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-QSB, or portion thereof will be filed on or before
the fifth calendar day following the prescribed due date; and
Equity Growth Systems, Inc., 12b-25/A Report of Late Filing, Page 1
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|_| (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III -- NARRATIVE
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State below in reasonable detail why the Form 10-KSB, 20-F, 11-K, 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.)
The Registrant's sole director and chief executive officer, Edward
Granville-Smith, suffered a medical emergency during the past several weeks. As
a result, on or about November 6, 1998, Mr Granville-Smith elected additional
members to the Registrant's Board of Directors who met by conference call during
November 13, 1998, to elect Charles J. Scimeca, theretofore the Registrant's
secretary, as the acting president and chief executive officer. While financial
statements have been prepared and are available for filing, and Mr. Scimeca is
familiar with the Registrant's business and expects to be able to carry on all
projects which Mr. Granville-Smith was supervising, Mr. Scimeca requires a
reasonable time to carry on due diligence review before filing the quarterly
report. The newly constituted Board of Directors now includes the Registrant's
legal counsel, G. Richard Chamberlin, Esquire, who is working with Mr. Scimeca
to conduct the required due diligence review, as well as to add to the report
material information concerning the recent series of events occasioned by Mr.
Granville-Smith's medical problems.
The Registrant anticipates that this report can be filed with the next
ten days.
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PART IV--OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification
Charles J. Scimeca 941 366-4679
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(Name) (Area Code) (Telephone Number)
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(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).
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Yes
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(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?
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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Equity Growth Systems,inc.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
November 16, 1998 By: /s/ Charles J. Scimeca
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Charles J. Scimeca
Chairman
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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).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 of the General Rules and Regulations
under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and amendments
thereto must be completed and filed with the Securities and Exchange
Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the
General Rules and Regulations under the Act. The information contained in or
filed with the form will be made a matter of public record in the Commission
files.
3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on form 12b-25 but need
not restate information that has been correctly furnished. The form shall be
clearly identified as an amended notification.
5. These general instructions are not to be filed with the notification. Please
detach before mailing the Form
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Equity Growth Systems, Inc., 12b-25/A Report of Late Filing, Page 4
