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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FILE NUMBER
0-16343
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FORM 12b-25
NOTIFICATION OF LATE FILING
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CUSIP NUMBER
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(Check One): [ ] Form 10-K and Form 10-KSB [ ] Form 11-K
[X] Form 10-Q and Form 10-QSB [ ] Form N-SAR
[ ] Form 20-F
For Period Ended: SEPTEMBER 30, 1998
[ ] 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:
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Read attached Instruction Sheet Before Preparing Form. Please Print or
Type. Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART I - REGISTRANT INFORMATION
Full Name of Registrant: OIS OPTICAL IMAGING SYSTEMS, INC.
Former Name if Applicable:
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Address of Principal Executive Office (Street and Number):
47050 FIVE MILE ROAD
(Street and Number)
NORTHVILLE, MICHIGAN 48167
(City and Zip Code)
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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;
(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 of 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 1O-K and Form 1O-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period (attach extra sheets if
needed).
THE REGISTRANT HAS ENCOUNTERED UNFORESEEN DELAYS IN COMPOSING ALL OF ITS
REQUIRED DISCLOSURES. THIS RESULTS PRIMARILY FROM THE RECENT DISCONTINUATION OF
THE COMPANY'S OPERATIONS AND THE RESULTING LAY-OFF OF A SUBSTANTIAL AMOUNT OF
ITS WORKFORCE.
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PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
CHARLES C. WILSON, EXECUTIVE VICE-PRESIDENT AND CFO (734) 454-5560
(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). [ ] Yes [ X] No
The Registrant has not filed its annual report on Form 10-K for the year
ended June 30, 1998.
(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 the results cannot be made.
ON SEPTEMBER 18, 1998, THE REGISTRANT SHUTDOWN ITS MANUFACTURING FACILITY
AND EFFECTIVELY DISCONTINUED ITS BUSINESS OPERATIONS. AS A RESULT, THE
REGISTRANT ESTIMATES THAT IT WILL REPORT TOTAL REVENUES OF APPROXIMATELY $2.9
MILLION AND A NET LOSS OF APPROXIMATELY $5.8 MILLION FOR THE QUARTER ENDED
SEPTEMBER 30, 1998 COMPARED TO TOTAL REVENUES OF APPROXIMATELY $6.5 MILLION AND
A NET LOSS OF APPROXIMATELY $5.0 MILLION FOR THE QUARTER ENDED SEPTEMBER 30,
1997.
AT SEPTEMBER 30, 1997, THE COMPANY HAD RECORDED IN ITS BALANCE SHEET
PROPERTY, PLANT AND EQUIPMENT VALUED AT COST LESS ACCUMULATED DEPRECIATION OF
APPROXIMATELY $55.7 MILLION. DUE TO THE OPERATING LOSSES INCURRED BY THE COMPANY
DURING FISCAL 1998 AND THROUGH THE FIRST QUARTER OF FISCAL 1999 AND THE
CESSATION OF ITS MANUFACTURING OPERATIONS ON SEPTEMBER 18, 1998, THERE IS
UNCERTAINTY REGARDING THE ULTIMATE REALIZABLE VALUE OF SUCH PROPERTY, PLANT AND
EQUIPMENT. AS A RESULT, THE PRESENT REALIZABLE VALUE OF THE PROPERTY, PLANT AND
EQUIPMENT COULD DIFFER MATERIALLY FROM THE VALUE RECORDED FOR SUCH PROPERTY,
PLANT AND EQUIPMENT ON THE COMPANY'S BALANCE SHEET AS OF SEPTEMBER 30, 1997.
OIS OPTICAL IMAGING SYSTEMS, INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
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Date: NOVEMBER 17, 1998 BY: /s/ CHARLES C. WILSON
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CHARLES C. WILSON, EXECUTIVE VICE
PRESIDENT AND CFO
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name 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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ATTENTION
Intentional misstatements or representations of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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