UNITED STATES -----------------
SECURITIES AND EXCHANGE COMMISSION SEC FILE NUMBER
Washington, D.C. 20549 0-15873
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FORM 12b-25
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NOTIFICATION OF LATE FILING CUSIP NUMBER
517906509
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(Check One):[X]Form 10-K [ ]Form 20-F [ ]Form 11-K [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: December 31, 1995
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[ ] 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 portion thereof, will be
filed on or before the fifteenth calendar day following the prescribed
[X] 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 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)
SEC 1344 (6/94)
<PAGE>
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Jacqueline E. Soechtig 813 725-0882
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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 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
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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 April 1, 1996 By /s/ Jacqueline E. Soechtig
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Jacqueline E. Soechtig, President
and Chief Executive Officer
<PAGE>
FORM 12b-25
ATTACHMENT A
PART III - NARRATIVE
The Form 10-K 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 such fiscal year prepared and reviewed by its independent public
accountant during the prescribed time period.
ATTACHMENT B
PART IV - OTHER INFORMATION
The Registrant anticipates reporting as much as a 50% increase in its loss for
the fiscal year ended December 31, 1995 as compared to its $2,402,384 loss for
the fiscal year ended December 31, 1994. Although the Registrant will report
increased revenues and improved gross margins for the year, selling, general and
administrative expenses increased significantly over the prior year due to the
integration of the Registrant's business with the businesses of Delta
Information Services, Inc. acquired on December 22, 1994 and GIS Systems Limited
Partnership acquired on February 15, 1995.