U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
FOR FORM 10-K
For Period Ended Commission File No. 0-13829
December 31, 1997 CUSIP No. 740330 10 5
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 a filing above, identify the
Item(s) to which the notification relates:
PART I - REGISTRANT INFORMATION
PRECISION STANDARD, INC.
(Full Name of Registrant)
1225 17th Street, Suite 1800
Denver, Colorado 80202
(Address of Principal Executive Office)
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)
(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 portions thereof, will be filed
[X] on or before the fifteenth 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 the 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.
Due to recent changes in the Company's accounting personnel and
ongoing negotiations with the Company's lenders, the Company has
been unable to compile the necessary financial information and
calculate the size of the Company's loss for the period (See
IV.(3) below).
PART IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Matthew L. Gold (303) 292-6565
(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 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 answer is
no, identify report(s).
[X] Yes [ ] No
(3) Is it anticipated that any significant change in results of operation
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
While revenues approximate the prior year, based on the size of
the losses for the first three quarters, net losses are expected
to be greater than the prior year. A reasonable estimate of
losses cannot be made at this time, however, because the
underlying financial information has not yet been compiled.
Precision Standard, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: April 1, 1998 By: /s/Matthew K. Gold
Matthew L. Gold
President
(Principal Financial and
Accounting Officer)
