SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 08354
NOTIFICATION OF LATE FILING
(Check One): [ ] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ ] Form 10-Q [ ] Form N-SAR
For Period Ended:
[ ] Transition Report on Form 10-K [X] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition 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: N/A
Part I. Registrant Information
Full name of registrant nStor Technologies, Inc.
Former name if applicable IMGE, Inc.
Address of principal executive office (Street and number):
100 Century Blvd.
City, State and Zip Code West Palm Beach, FL 33417
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.
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. (Attach extra sheets if
needed.)
The Registrant has changed its fiscal year to one ending on
December 31. On December 30, 1996, Registrant completed the
acquisition of substantially all the net assets of Parity Systems,
Inc. located in Los Gatos, California, which acquisition was effective
on December 1, 1996. The acquisition presented the Registrant with a
number of complex accounting and financial reporting issues. Due to
the great quantity of the work involved in resolving these issues and
the Registrant's efforts in resolving such issues, the Registrant is
unable to file its transition report on Form 10-Q without undue effort
or expense within the time required for filing.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to
this notification:
Jack Jaiven 561 487-8845
(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 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.
Registrant disposed of substantially all of its previous
operating assets in October 1992 in exchange for shares in the company
that purchased those assets (IMNET Systems, Inc. - "IMNET"). From the
date Registrant sold those assets until June 3, 1996, the effective
date of Registrant's acquisition of its current business, consisting
of the development, manufacture and marketing of a full range of disk
array products, known as RAID (Redundant Array of Independent Disks)
subsystems, Registrant's only activities consisted of monitoring its
investment in IMNET and evaluating potential business opportunities.
Accordingly, operating results for the two months ended December 31,
1995 consisted of administrative expenses and interest expense.
For the two months ended December 31, 1996, Registrant's sales
and cost of sales are expected to be as follows:
Sales $4,739,000
Cost of sales 3,392,000
----------
Gross profit $1,347,000
==========
A reasonable estimate of Registrant's net income (loss) cannot be
made at this time as certain significant accounting and financial
reporting issues have yet to be resolved.
nSTOR TECHNOLOGIES, INC.
(Name of registrant as specified in charter)
Has caused this notification to be signed on its behalf by the
undersigned thereunto duly authorized.
/s/ Jack Jaiven
By:____________________________________
Jack Jaiven, Chief Financial Officer
Date: February 14, 1997
