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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25 SEC File Number 0-13304
CUSIP Number 159300 10 2
NOTIFICATION OF LATE FILING
(Check One):
(X) Form 10-K ( ) Form 11-K ( ) Form 20-F ( ) Form 10-Q
For Period Ended: JUNE 30, 1996
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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:
Not Applicable.
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PART I - REGISTRANT INFORMATION
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Full Name of Registrant: CHANTAL PHARMACEUTICAL CORPORATION
Former Name if Applicable:
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Address of Principal Executive Office: 12121 WILSHIRE BOULEVARD,
SUITE 1120
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City, State and Zip Code: LOS ANGELES, CALIFORNIA 90025
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PART II - RULES 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 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;
(X) (b) The subject annual report/portion thereof will be filed on
or before the fifteenth calendar day following the prescribed
due date; or the subject quarterly report will be filed on or
before the fifth calendar day following the prescribed due
date; and
(X) (c) The accountant's statement or other exhibit required
by Rule 12b-25 has been attached if applicable.
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PART III - NARRATIVE
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State below in reasonable detail the reasons why the Form 10-K, 11-K, 20-F or
10-Q or portion thereof could not be filed within the prescribed time period.
The Registrant has not yet completed its review and necessary analysis of all
of the business and financial information necessary to allow the Registrant to
complete the narrative disclosure and financial statements for the Registrant's
Annual Report on Form 10-K for the fiscal year ended June 30, 1996 and to allow
the Company's newly engaged independent auditors, BDO Seidman, LLP, the
opportunity to complete its audit procedures to enable it to render its opinion
within the prescribed period. See Exhibit I.
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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:
Chantal Burnison (310) 207-1950
(Name) (Area Code) (Telephone number)
(2) Have all other periodic reports required (under
Section 13 or 15(d) of the Securities Exchange Act (X) Yes ( ) No
of 1934) during the preceding twelve months (or for
such shorter period that the Registrant was required
to file such reports) been filed? If the answer is no,
identify report(s).
(3) Is it anticipated that any significant change in
results of operations from the corresponding * (X) Yes ( ) No
period for the last fiscal year will be reflected
by the earnings statement to be included in the
subject report or portion thereof?
If so: attach an explanation of the anticipated change,
both herewith narratively and quantitatively, and, if
appropriate, state the reasons why a reasonable estimate
of the results can not be made. (See the following)
* The Registrant is not able to give any indication of its results of
operations due to various accounting issues being reviewed with the
Registrant's newly engaged independent auditors.
Chantal Pharmaceutical Corporation has caused this notification to be signed on
its behalf by the undersigned, thereunto duly authorized.
Date: September 30, 1996 CHANTAL PHARMACEUTICAL CORPORATION
By: /s/ Chantal Burnison
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Chantal Burnison
Chief Executive Officer
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EXHIBIT I
[BDO LOGO] [BDO SEIDMAN, LLP LETTERHEAD]
September 27, 1996
Securities and Exchange Commission
450 Fifth Street N.W.
Washington, D.C. 20549
This letter is written in response to the requirement of Rule 12b-25(c) under
the Securities Exchange Act of 1934 and in satisfaction of item (c) of Part II
of Form 12b-25.
We are the independent auditors of Chantal Pharmaceutical Corporation (the
"Registrant"). The Registrant has stated in Part III of its filing on Form
12b-25 that it is unable to timely file, without unreasonable effort or
expense, its Annual Report on Form 10-K for the year ended June 30, 1996
because our Firm has not yet completed our audit of the financial statements of
the Registrant for the year ended June 30, 1996 and is therefore unable to
furnish the required opinion on such financial statements.
We hereby advise you that we have read the statements made by the Registrant in
Part III of its filing on Form 12b-25 for the year ended June 30, 1996, and
agree with the statements made therein as they related to accounting and
auditing matters.
Very truly yours,
/s/ BDO SEIDMAN, LLP
BDO Seidman, LLP
