SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 08354
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ ] Form 10-Q [ ] Form N-SAR
For Period Ended: December 31, 1997
[ ] 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
For the Transition Period Ended:
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
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.)
Registrant experienced significant losses for the year ended
December 31, 1997 (see Part IV) partially due to significant
inventory writedowns. The final review of these writedowns cannot
be completed by the prescribed due date for Registrant's Form 10-K
without unreasonable effort or expense. In addition, management is
currently negotiating with several potential lenders to secure an
asset based loan which will enable the Registrant to repay its
existing short-term debt (which matures on June 30, 1998, as
extended), and provide sufficient working capital for operations.
This process has required Registrant's relatively limited financial
and accounting personnel to focus their primary efforts in
obtaining such financing and as a result, Registrant cannot
complete its Form 10-K by the prescribed due date without
reasonable effort and expense.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard
to this notification:
Mark Levy 561 640-3103
(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 expects to report a net loss of approximately $7.9
million for the year ended December 31, 1997 as compared to net
income of $12.8 million for the year ended October 31, 1996. In
November 1996, the Registrant changed its fiscal year end from
October 31, to December 31, effective with the calendar year
beginning January 1, 1997. For the two month transition period
ended December 31, 1996, Registrant's net loss amounted to
$43,000.
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/ Mark F. Levy
By:____________________________________
Mark F. Levy, President
Date: March 30, 1998
