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, 1998
[ ] 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):
450 Technology Park
City, State and Zip Code Lake Mary, Fl 32746
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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.
Registrant experienced significant losses for the year ended
December 31, 1998 (see Part IV). Management is currently
evaluating certain matters regarding the carrying amount of its
goodwill. This evaluation is not expected to be completed by the
prescribed due date for Registrant's Form 10-K.
In addition, Registrant has recently entered into a significant new
arrangement with an original equipment manufacturer. The contract
for this arrangement will be material to Registrant's operations.
Management does not anticipate receiving certain material
information in connection therewith, which management believes
should be disclosed, until after the prescribed due date but before
the extended due date for Registrant's Form 10-K. This information
is not currently available.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard
to this notification:
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Mark F. Levy 561 640-3133
(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 in its Form 10-K a net loss applicable
to common stock of approximately $11.9 million for the year ended
December 31, 1998 (subject to completion of the evaluation
discussed in Part III hereof), as compared to a net loss of $7.9
million for the year ended December 31, 1997. The increased net
loss was primarily attributable to an $8.2 million (31%) reduction
in sales and a $1.2 million embedded dividend attributable to a
beneficial conversion privilege of Convertible Preferred Stock.
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.
By:____________________________________
Mark F. Levy, Vice President
Date: March 30, 1999
