UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC FILE NUMBER
0-15873
NOTIFICATION OF LATE FILING
CUSIP NUMBER
517906 50 9
(CHECK ONE): [ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [X]Form 10-QSB [ ]Form N-SAR
For Period Ended: March 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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Read Instruction (on back page) 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.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
Lasergate Systems, Inc.
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Full Name of Registrant
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Former Name if Applicable
28050 U.S. 19 North, Corporate Square, Suite 502
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Address of Principal Executive Office (Street and Number)
Clearwater, Florida 34621
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City, State and Zip Code
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
[X] portion thereof, will be filed 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
12-b-25(c) has been attached if applicable.
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.
SEE ATTACHMENT A
(Attach Extra Sheets if Needed)
<PAGE>
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
John P. Warnick 813 725-0882
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(Name) (Area Code) (Telephone Number)
Chief Financial Officer
(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 answer is no, identify report(s) [X] Yes [ ] No
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(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
SEE ATTACHMENT B
If so, attach an explanation of the anticipated change, both
narratively and quantitatively, and, if appropriate, state the reasons
why a reasonable estimate of results cannot be made.
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Lasergate Systems, 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
hereunto duly authorized.
Date May 15, 1996 By /s/ John P. Warnick
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John P. Warnick, Chief Financial Officer
<PAGE>
FORM 12b-25
ATTACHMENT A
PART III - NARRATIVE
The Form 10-QSB for the Registrant cannot be filed within the prescribed
time period because the ongoing implementation of new accounting systems
commenced in the latter part of 1995 coupled with a complete changeover of the
Company's accounting and financial personnel during the fourth quarter of the
fiscal year ended December 31, 1995 have resulted in an inability to have the
financial statements for the quarter ended March 31, 1996 prepared during the
prescribed time period.
ATTACHMENT B
PART IV - OTHER INFORMATION
The Registrant anticipates reporting a significant increase in revenues and
gross profit along with a reduction of selling, general and administrative (SGA)
expenses as a percentage of revenues. The increased revenues and gross profits
are a result of the two businesses acquired, Delta Information Services, Inc.
acquired December 22, 1994 and GIS Systems Limited Partnership acquired February
15, 1995. The reduction in SGA (principally consultant and personnel related
expenses) is primarily the result of the completion of the integration of the
Registrant's business with the two acquired businesses by the end of 1995.