FORM 12b-25
Notification of Late Filing Form 10-QSB for the Period Ended
March 31, 1998
PART I - REGISTRANT INFORMATION
Quadrax Corporation
618 Main Street
PO Box 1001
West Warwick, RI 02893-0901
PART II - RULES 12b-25(b) and (c)
(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 quarterly report on Form 10-QSB will be filed on or
before the fifth calendar day following the prescribed due
date.
(c) Not Applicable
Part III - NARRATIVE
Due to Quadrax Corporation filing a petition for relief under
Chapter 11 of the Bankruptcy Code on February 27, 1998,
significant additional effort is required to restructure
the financial statements to reflect the guidance of Statement
of Position No. 90-7 of the Accounting Standards Division
of the AICPA "Financial Reporting by Entities in Reorganization
Under the Bankruptcy Code" and additional time is required
to finalize preparation of the Form 10-QSB.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification
Brooks R. Herrick (401) 683-6600
(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 1940 during the preceding 12 months
period that the registrant was required to file such reports
been filed?
(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?
(X) Yes ( ) No
The results will be significantly changed from the quarter ended
March 31, 1997 due to the disposition of the Lion Golf of Oregon
subsidiary and the acquisition of Victor Electric Wire & Cable, Inc.
in the intervening period and Quadrax Cororation filing for relief
under Chapter 11 of the Bankruptcy Code and severely curtailing the
operations of its plastics operations in the quarter ended
March 31, 1998. These matters are disclosed and discussed in the
previously filed Annual Report on Form 10KSB.
Quadrax Corporation has caused this notification to be signed on
its behalf by the undersigned hereunto duly authorized.
Date May 13, 1998
By /S/ James J. Palermo
James J. Palermo
Chief Executive Officer
