SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 0-16293
NOTIFICATION OF LATE FILING
(Check One): [ T ] Form 10-K [ ] Form 11-K [ ] Form 20-F
[ ] Form 10-Q [ ] Form N-SAR
For Period Ended: September 30, 1997
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: Not Applicable
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Nothing in this Form shall be construed to imply that the Commission has
verified any information contained herein.
If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates: Not Applicable
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Part I. Registrant Information
Full name of registrant: Lanxide Corporation
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Former name if applicable:
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Address of principal executive office (Street and Number):
1300 Marrows Road, P.O. Box 6077
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City, State and Zip Code: Newark, Delaware 19714-6077
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Part II. Rule 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 appropriate box.)
[ T ] (a) The reasons described in reasonable detail in Part III of this form
could not be eliminated without unreasonable effort or expense;
[ T ] (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on
or before the 15th 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 the reasons why the Form 10-K, 11-K, 20F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed).
Lanxide Corporation (the "Company") executed a promissory note in the
amount of $1.8 million, dated December 29, 1997, in favor of Lanxide K.K., a
corporation organized under the laws of Japan and an affiliate of the Company
("Lanxide K.K."), pursuant to which the Company received $1.3 million on
December 29, 1997 and will receive an additional $.5 million on January 12, 1998
(the "Loan"). The Loan will enable the Company to continue its current
operations in the near term while additional sources of funding are being
pursued. There can be no assurance, however, that additional sources of
funding will be available to the Company. The Loan was not completed in time
for the Company to file its Annual report on Form 10-KSB on a timely basis, and
the Loan will significantly impact the disclosures required by Form 10-KSB for
the fiscal year ended September 30, 1997.
For the reasons set forth above, the Company's inability to timely file its
Annual Report on Form 10-KSB for its fiscal year ended September 30, 1997 could
not be eliminated without unreasonable effort or expense. The Company intends
to file its Annual Report no later than the fifteenth day after the due date of
the Annual Report.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Robert J. Ferris (302) 456-6216
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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 the answer is no,
identify report(s).
[ T ] 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 or portion thereof?
[ T ] 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 Company incurred a net loss of $2,565,000 for the fiscal year ended
September 30, 1997 as compared to net income of $1,573,000 for the fiscal year
ended September 30, 1996. The per share loss for fiscal 1997 was $1.96 per
share as compared to per share income of $.77 per share for Fiscal 1996.
Lanxide Corporation
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(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on their behalf by the undersigned
thereunto duly authorized.
Date: December 30, 1997 By /s/ Robert J. Ferris
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Robert J. Ferris
Secretary, Treasurer and
Vice President, Administration
