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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
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NOTIFICATION OF LATE FILING SEC FILE NUMBER
1-12687
(Check One): |X| Form 10-K |_| Form 20-F |_| Form 11-K |_| Form 10-Q |_| Form N-SAR -----------------------------
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CUSIP NUMBER
For Period Ended: APRIL 30, 1998 449515 30 3
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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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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
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Full Name of Registrant
IFS INTERNATIONAL, INC.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
300 JORDAN ROAD, TROY, NY 12180
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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;
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|X| | (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 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 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 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. (Attach Extra Sheets if Needed)
Additional time will be required in order for the registrant to complete and issue the Annual Report on Form 10-KSB. On January 30,
1998, the registrant acquired NCI Holdings, Inc. As a result of the acquisition, additional time is required by the registrant to
obtain audited financial statements of the acquired company as of the acquisition date and to determine appropriate purchase
accounting adjustments.
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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
CARMEN A. PASCUITO 518 283-7900
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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 reports 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
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.
It is anticipated that the net loss for the year ended April 30, 1998 will be approximately $(1,350,000) as compared to a net
income of approximately $288,000 for the year ended April 30, 1997. The net loss is primarily a result of increased Company
infrastructure costs associated with additional internal development and management of the Company. These costs were incurred
in anticipation of additional revenues from software license and installation contract fees, some of which did not materialize
due, in part, to the Asian monetary crisis.
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IFS INTERNATIONAL, 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.
JULY 30, 1998 /S/ CARMEN A. PASCUITO
Date _____________________________________ By_____________________________________________________
CARMEN A. PASCUITO, CONTROLLER, SECRETARY
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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Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).
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