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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-14203
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NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q
[ ] Form N-SAR
For Period Ended: August 31, 1995
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[ ] 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
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 Meridian National Corporation
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Address and principal executive office 805 Chicago Street
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City, State and Zip Code Toledo, Ohio 43611
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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), 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;
[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.
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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.
Form 10-Q for the period ended August 31, 1995 will not be filed within
the prescribed time period as a result of the exceptionally heavy workload
experienced by the Registrant's accounting and reporting department. The heavy
workload is a result of work related to the Registrant's previously announced
agreement in principle for the acquisition of a steel processing service center
and a planned public offering of approximately 50% of the Registrant's
Environmental Unit. These projects have caused a delay in the preparation of
the quarterly financial statements and Form 10-Q.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
James L. Rosino 419 729-3918
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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 of
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.
Net loss for the second quarter of fiscal 1996 was $329,000 ($.14 per
share) compared to net income of $528,000 ($.19 per share) in the
second quarter last year. Net income for the second quarter of the
prior year includes a $226,000 extraordinary gain ($.09 per share)
resulting from the early retirement of debt obligations at a discount.
Net sales for the quarter amounted to $12,880,000, a 17% increase over
the second quarter of the prior fiscal year.
Earnings in the second quarter of fiscal 1996 were affected by the
shutdown of the Company's automotive bumper stock pickling operation,
a decrease in steel segment gross margins due to market conditions, a
decline in waste management segment sales and a 60% increase in
interest expense.
MERIDIAN NATIONAL 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 October 16, 1995 /s/ Joseph Klobuchar, Jr.
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