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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
Check One): Commission File Number 0-16594
[X]Form 10-K and Form 10-KSB [ ]Form 11-K [ ]Form 20-F [ ] Form 10-Q and Form
10-QSB [ ] Form N-SAR
For Period Ended: March 31, 1998
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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:
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.
If the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
PART I
REGISTRANT INFORMATION
Full Name of Registrant Medical Technology Systems, Inc.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number) 12920 Automobile
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Boulevard
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City, State and Zip Code Clearwater, Florida 34622
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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) [?23,047], the
following should be completed. (Check box if appropriate)
[x] (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 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 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;
[ ] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable.
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PART III
NARRATIVE
State below in reasonable detail the reasons why Form 10-K and Form 10-KSB,
20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion
thereof could not be filed within the prescribed period.
The Company could not file its Form 10K for the fiscal year ended March 31,
1998 within the prescribed time period without unreasonable effort or
expense due to the complicated nature of the transactions related to
amended loan agreements with its bank, the reorganization of one of the
Company's subsidiaries and certain logistical problems related to the
filing. The Company is diligently working to complete the Form 10K and
expects to file it in its entirety on or before the fifteenth calendar day
following the prescribed due date. PART IV OTHER INFORMATION
1) Name and telephone number of person to contact in regard to this
notification
Michael P. Conroy, Chief Financial Officer (813)576-6311
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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). [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 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. See Attachment "A."
Medical Technology Systems, Inc.
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(Name of Registrant as specified in its charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date June 29, 1998 By: /s/ Michael P. Conroy
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Michael P.Conroy, 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.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal criminal
violations (See 18 U.S.C. 1001).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240, 12b-25) of the
General Rules and Regulations under the Securities Exchange Act of
1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and
Exchange Commission, Washington, D.C. 20549, in accordance with Rule
0-3 of the General Rules and Regulations under the Act. The information
contained in or filed with the Form will be made a matter of the public
record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of
securities of the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but
need not restate information that has been correctly furnished. The
form shall be clearly identified as an amended notification.
5. Electronic Filers. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties.
Filers unable to submit a report within the time period prescribed due
to difficulties in electronic filing should comply with either Rule 201
or Rule 202 of Regulation S-T or apply for an adjustment in filing date
pursuant to Rule 13(b) of Regulation S-T.
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Attachment A
Medical Technology Systems, Inc. (the "Company") expects that its
earnings for the year ended March 31, 1998 ("Fiscal 1998") will be significantly
lower than its earnings for the year ended March 31, 1997 ("Fiscal 1997"). The
Company reported a net profit of approximately $13.0 million for fiscal 1997 and
expects to report a net loss of approximately $1.0 million for fiscal 1998.
The Company attributes the large decrease in earnings to the fact that
the net income for fiscal 1997 included extraordinary gains recognized on debt
forgiveness of $13.6 million associated with the reorganization of several of
its subsidiaries. In addition, the Company recognized a gain of $2.2 million on
the disposal of one of its discontinued operations during fiscal 1997. The
Company did not have extraordinary gains or gains on disposal of discontinued
operations during fiscal 1998. Therefore, although the Company expects to report
a revenue increase in Fiscal 1998 compared to the previous year, new income is
expected to decrease by approximately $14.0 million.
