U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
SEC File No:
NOTIFICATION OF LATE FILING 0-12968
Form 10-K or 10-KSB
For Period Ended December 31, 1996
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. The filing relates to the entire Form 10KSB.
Part I--Registrant Information
Full Name of Registrant: INMEDICA DEVELOPMENT CORPORATION
Address of Principal Executive Office:
60 South 600 East, Suite 150
City, State and Zip Code: Salt Lake City, Utah 84102
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 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 or semi-annual report/portion thereof will be
filed on or before the fifteenth calendar day following the prescribed due date;
or the subject quarterly report/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 or 10-KSB or
portion thereof could not be filed within the prescribed time period.
The reason the report could not be timely filed is that the Company was
advised shortly before completing the report that certain data
computations were necessary for financial footnote disclosure not
previously required in the report. The Company was unable to complete
the data computations in time for filing of the report.
Part IV--Other Information
(1) The person to contact in regard to this notification is:
Scott R. Jenkins (801)531-8300
(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? [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 results cannot be made.
Recognized revenues for the year are expected to be approximately $725,000
compared to $693,440 for the 1995 year, due to increased royalty revenues. The
Company's general and administrative expenses for the 1996 year are expected to
be approximately $140,000 greater than those for the prior year, due to option
expense and increased administrative expense incident to a dispute with a former
officer of the Company. Research and development expenses are expected to be
approximately $150,000 for the current year as compared to research and
development expenditures during the prior year of about $203,000. The higher
figure in the 1995 fiscal year was due to the purchase of certain hematocrit
technology in 1995. In spite of increased general and administrative expenses in
1996, net income for the 1996 year is expected to be about $160,000 as compared
to $133,803 (before extraordinary gain) in 1995.
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INMEDICA DEVELOPMENT CORPORATION
has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: March 28, 1997 By:/s/Richard Bruggeman
Richard Bruggeman, Treasurer
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.
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