SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-14328
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-KSB [ ] Form 20-F
[ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For the Period Ended: June 30, 1997
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on From N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:______________________
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.
If the notification related to a portion of the filing checked above,
identify the item(s) to which the notification relates:
PART I. REGISTRANT INFORMATION
Full name of registrant: Zing Technologies, Inc.
Former name if applicable:
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115 Stevens Avenue
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Address of Principal executive office (Street and number)
City, state and zip code Valhalla, NY 10595
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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.)
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| (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 on Form 10-KSB will be filed on
| or before the 15th 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 Forms 10-K, 20-F, 11-K,
10-Q, N-SAR, or the transition report or portion thereof could not be filed
within the prescribed time period:
Since the spin-off of one subsidiary of the Registrant and the
reorganization of another subsidiary of the Registrant, both of which occurred
on June 30, 1997, the Registrant has devoted all of its energy and attention to
the further development and organization of its business. In addition, because
the officers of the Registrant and its the newly spunoff former subsidiary are
the same, this is the first year for which such officers have been required to
prepare two Annual Reports on Form 10-KSB for the fiscal year ended June 30,
1997. Accordingly, the Registrant is unable to file its Form 10-KSB for the
fiscal year ended June 30, 1997 within the prescribed time period without
unreasonable effort and expense.
PART IV. OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Martin S. Fawer (914) 747-7474
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(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 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.
The Registrant reported net income of $1,608,000 for the fiscal year ended
June 30, 1997, as compared to net income of $4,413,000 for fiscal 1996. This
decrease of approximately $2.8 million or 63% is primarily due to the following
factors:
(a) the Registrant's sales decreased by approximately $4.7 million;
(b) the Registrant incurred a restructuring charge of approximately $1.2
million; and
(c) in fiscal 1996, the Registrant realized an additional $2.0 million
from the sale of the net assets of its high reliability electronic
semiconductor component distribution and value added services
business in May 1993.
Zing Technologies, Inc.
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(Name of registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: September 29, 1997 By: /s/ Martin S. Fawer
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Title: Chief Financial Officer
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Instruction. The form may be signed by an executive officer of the
registrant or by any other duly authorized representative. 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.
ATTENTION:
Intentional misstatements or omissions of fact constitute Federal criminal
violations (see 18 U.S.C. 1001).
