United States
Securities and Exchange Commission
Washington, D.C. 20549
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SEC FILE NUMBER
1-11046
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FORM 12b-25
NOTIFICATION OF LATE FILING
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CUSIP NUMBER
890530 10 8
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(Check One) Form 10-K Form 20-F Form 11-K X Form 10-Q Form N-SAR
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For Period Ended: March 31, 1997
( ) 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 Instructions (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 1 -REGISTRANT INFORMATION
TOP SOURCE TECHNOLOGIES, INC.
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Full Name of Registrant TOP SOURCE, INC.
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Former Name if Applicable
7108 Fairway Drive, Suite 200
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Address of Principal Executive Office (Street and Number)
Palm Beach Gardens, Florida 33418
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City, State and Zip Code
PART 11 - 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:
x (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, 11-K, form N-SAR , or portion
thereof, will be filed on or before the fifteenth calendar
day following the prescribed due date;
or the subject quarterly report of 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 Form 10-K, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
SEC 1344 (11-91)
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Top Source Technologies, Inc. (the "Company") is unable to file its 10-Q by
May 15, 1997 because it is awaiting the outcome of several business initiatives
that, if successful, would significantly impact disclosure language in the
Company's MD&A section.
Pursuant to Item 303 of Regulation S-K, these discussions may be required to be
disclosed in the Management's Discussion and Analysis of Interim Financial
Condition and Results of Operations. The Company believes that by May 20,
1997 it will be better able to assess and describe the progress of the
discussions and impact of this transaction, if successful, on the Company's
financial statements.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
David Natan (561) 775-5756
(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 reports) been filed? If answer is no, identify report(s).
Yes X 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
For the quarter ended March 31, 1997, the Company's net sales were
$5,245,000 versus $3,310,928 for the same quarter in fiscal 1996. The
Company's gain from operations for the March 31, 1997 quarter was $14,890
versus a loss of $(1,141,927) for the prior year. These totals are consistent
with information released to the public in a press release on Aparil 11, 1997.
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TOP SOURCE 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
hereunto duly authorized.
/s/ David Natan
Date : May 13, 1997 By: David Natan
Vice President and
Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. 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.
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