SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Commission File Number 0-1298
NOTIFICATION OF LATE FILING
(Check One):
|X| Form 10-K |_| Form 11-K |_| Form 20-K |_| Form 10-Q |_| Form N-SAR
For Period Ended: DECEMBER 31, 1997
|_| 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:
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 ADVANCED TECHNICAL PRODUCTS, INC.
Address of principal executive office (STREET AND NUMBER):
3353 PEACHTREE ROAD, SUITE 920
City, state and zip code ATLANTA, GEORGIA 30326
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 12(b)-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;
[X] (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 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 portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed.)
<PAGE>
As of December 31, 1997, Advanced Technical Products, Inc. (the
"Registrant") was in default under certain covenants contained in a
certain Loan and Security Agreement (the "Loan Agreement") with Fleet
Capital Corporation, its primary lender ("Fleet"). Because of such
default, the Registrant was required to reclassify the indebtedness
related to borrowings under the Loan Agreement from long-term to short-tem
debt on the Registrant's financial statements, which reclassification
could not be completed prior to the deadline for the filing of the
Registrant's Annual Report on Form 10-K without unreasonable effort or
expense. In order to prevent such reclassification, the Registrant was
required to obtain a waiver of the defaults from Fleet or refinance all of
the Registrant's credit facilities. The Registrant was not able to obtain
a satisfactory waiver from Fleet, and could not complete the refinancing
in time for the timely filing the Registrant's Annual Report on Form 10-K
without unreasonable effort or expense. The refinancing was completed on
March 31, 1998, after the deadline for electronically filing the
Registrant's Annual Report on Form 10-K. The Registrant will file its
Annual Report on Form 10-K on or before April 15, 1998.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
GARRETT L. DOMINY (404) 231-7272
(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.
ADVANCED TECHNICAL PRODUCTS, 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 APRIL 1, 1998 By /s/GARRETT L. DOMINY
Garrett L. Dominy, Executive Vice President and
Chief Financial Officer
ATTENTION
Intentional misstatements or omissions of fact constitute Federal criminal
violations (SEE 18 U.S.C. 1001).
