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UNITED STATES OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION -----------------------------
Washington, D.C. 20549 OMB Number: 3235-0058
Expires: June 30, 1997
Estimated average burden
FORM 12b-25 hours per response ..... 2.50
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NOTIFICATION OF LATE FILING SEC FILE NUMBER
(Check One): -----------------------------
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|X| Form 10-K and Form 10-KSB |_| Form 20-F |_| Form 11-K | | Form 10-Q and Form 10-QSB CUSIP NUMBER
|_| Form N-SAR
For Period Ended: February 28, 1999 -----------------------------
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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 Attached Instruction Sheet 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
SPARTA SURGICAL CORPORATION
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Full Name of Registrant
Not Applicable
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Former Name if Applicable
7068 Koll Center Parkway
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Address of Principal Executive Office (Street and Number)
Pleasanton, California 94566
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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;
|
|X| | (b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 10-KSB, Form 20-F, Form 11-K
| or 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 Form 10-QSB, 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 and 10-KSB, 20-F, 11-K, 10-Q and 10-QSB, N-SAR, or the transition
report or portion thereof, could not be filed within the prescribed period.
The Registrant entered into a Definitive Agreement on May 15, 1999(subject to certain conditions) to acquire a home health care
business significantly larger than the Registrant. Because of the efforts required in the negotiations, integration, due diligence
process, and securing financing, the entire process consummed a substantial portion of Registrant's attention and limited resources,
the Registrant was not able to complete the preparation of its annual report on Form 10-KSB for the period ended February 28, 1999,
also prevented the Registrant's independent auditors from furnishing their required opinion.
(Attach Extra Sheets if Needed)
SEC 1344 (6/94)
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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
THOMAS F. REINER (925) 417-8812
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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
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.
The Registrant anticipates that the earnings statement to be reported on its Form 10-KSB for the year ended
February 28, 1999 will reflect significant changes in its results of operations from the fiscal year ended
February 28, 1998. The earnings statement will report: (i) net revenues decreased from $2,272,000 in fiscal
year 1998 to $1,984,300 million in fiscal year 1999, and gross margin decreased from $1,204,000 in fiscal
year 1998 to $952,000 in fiscal year 1999, and (ii) net loss decreased from $1,858,279 million in fiscal year
1998 to approximately $25,000 in fiscal year 1999, due primariy to cost reduction and consideration of the operation.
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SPARTA SURGICAL CORPORATION
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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 28, 1999 By: /s/ THOMAS F. REINER
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Thomas F. Reiner, President
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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