U.S SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20449
FORM 12b - 25
NOTIFICATION OF LATE FILING
[ x ]Form 10-K [ ]Form 10-KSB [ ]Form 20-F [ ]Form 11-K
[ ]Form 10-Q [ ]Form 10-QSB [ ]Form N-SAR
For Period Ended: December 31, 1994
[ ] 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:
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: NATIONAL PATENT DEVELOPMENT CORPORATION
Former Name if Applicable:
Address of Principal Executive Office (Street and Number):
9 WEST 57TH STREET
City, State and Zip Code:
NEW YORK, NY 10019
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 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, 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; /x/
(c) The accountants's statement or other exhibit required
by Rule 12b-25 (c) has been attached if applicable.
Part III Narrative
State below in reasonable details the reason why Form 10-K, 10-
KSB, 20-F, 11-K, 10-Q and 10-QSB, N-SAR or the transition report
or portion thereof could not be filed within the prescribed
period.
The Registrant can not file its Report on Form 10-K for the year
ended December 31, 1994 on a timely basis without unreasonable
effort or expense.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to
this notification: ANDREA D. KANTOR, ESQ. (212) 230-9516
(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 reports been filed? If the answer is no, identify reports.
[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 statement 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 these results cannot be
made.
A significant change in results of operations have occured
due to (i) foreign currency transaction losses, (ii) discontinued
operation losses and (iii) the closing of a distribution
facility. If such events described above did not occur, there
would be no significant change in the results of operations for
the year ended Decembber 31, 1994. Such three events amounted to
a loss of $6,550,000 in the aggregate for the year ended December
31, 1994.
NATIONAL PATENT DEVELOPMENT CORPORATION
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized
Date: March 30, 1995 By: Lawrence M.Gordon
Vice President and
General Counsel
