SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
Notification of Late Filing
Commission File Number O-1437
(Check one):
(X) Form 10-K (_) Form 11-K (_) Form 20-F (_) Form 10-Q (_) Form N-SAR
For period ended December 31, 1996
( ) Transition Report on Form 10-K
( ) Transition Report on Form 20-F
( ) Transition Report on Form 11-K
( ) Transition Report on Form 10-Q
( ) Transition Report on Form N-SAR
For the transition period ended:
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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: Not Applicable
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PART I - REGISTRANT INFORMATION
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Full name of registrant HALSEY DRUG CO., INC.
Former name if applicable
Address of principal executive office (Street and Number): 1827 Pacific Street
City, State and Zip Code: Brooklyn, New York 11233
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PART II - RULE 12B-25(B) AND (C)
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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 where appropriate.)
(_) (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
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(x) (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
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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.)
Independent outside accountants had insufficient financial information
available to enable them to complete audit on a timely basis.
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PART IV - OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification.
ROSENDO FERRAN (718) 467-7500
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports required under Section 13 or 15(d) or
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?
( ) Yes (X) 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.
HALSEY DRUG CO., INC.
Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: March 31, 1997 By /s/ Rosendo Ferran
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Rosendo Ferran,
President and Chief Executive Officer
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EXHIBIT TO FORM 12b-25
Grant Thornton LLP hereby states that they are unable to furnish the audit
report on the consolidated financial statements of Halsey Drug Company for the
fiscal year ended December 31, 1996 as they have not yet received, from third
parties, certain information required to be able to give their report. This
statement may be filed as an Exhibit to the Form 12b-25 Notification of Late
Filing of Halsey Drug Company.
Dated: March 28, 1997
/s/ Grant Thornton LLP
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Grant Thornton LLP
