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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25 NOTIFICATION OF LATE FILING
(MARK ONE)
/ / FORM 10-K
/ / FORM 20-F
/ / FORM 11-K
/X/ FORM 10-Q
/ / FORM N-SAR
FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 1998
/ / TRANSITION REPORT ON FROM 10-K
/ / TRANSITION REPORT ON FROM 20-F
/ / TRANSITION REPORT ON FROM 11-K
/ / TRANSITION REPORT ON FROM 10-Q
/ / TRANSITION REPORT ON FROM N-SAR
FOR THE TRANSITION PERIOD FROM ______ TO _______
COMMISSION FILE NUMBER 1-10418
UNITED MEDICORP, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 75-2217002
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NO.)
10210 NORTH CENTRAL EXPRESSWAY
SUITE 400
DALLAS, TEXAS 75231
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (214) 691-2140
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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), 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; (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 /X/ 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, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
Due to the timing of the acquisition of Allied Health Options, Inc. ("AHO")
on August 7, 1998, the delay in the audit of AHO's financial statements for
the two years ended December 31, 1997, and due to the difficulty of the
consolidation process related to this business combination, additional time
is required to file Form 10-Q for the quarterly period ended September 30,
1998.
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
R. Kenyon Culver (214) 360-44469
(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). / / Yes /X/ No
Financial Statements were not filed with the Form 8-K filed on August
21, 1998 as it was impractical to provide the required financial
information at the time of filing. As disclosed in the Form 8-K filed on
August 21, 1998, it was management's intent to file audited financial
information and to provide pro forma financial information by amendment
to the Form 8-K no later than October 19, 1998. To date, this financial
information has not been filed due to unanticipated delays in the audit
primarily as the result of incomplete accounting records with respect to
certain transactions. The audit remains ongoing; however, at this time,
management cannot estimate when audited financial information and pro
forma information will be filed.
(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.
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Information for United Medicorp, Inc. ("UMC") and AHO is as follows:
UMC AND AHO FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1998, AND FOR THE TWO
MONTHS ENDED SEPTEMBER 30, 1998, RESPECTIVELY:
<TABLE>
<CAPTION>
Adjustments/ Consolidated
UMC AHO Eliminations UMC
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
External revenue.......................... $ 970,492 $ 403,823 $ -- $ 1,374,315
Operating expenses........................ 967,879 339,901 -- 1,307,780
Medicare Home Office costs allocation (50,000) 50,000 -- --
Bad debts................................. -- 92,164 -- 92,164
Depreciation and amortization 22,604 1,396 18,659 42,659
Interest expense.......................... 3,210 7,600 -- 10,810
Interest (income)......................... (4,177) -- -- (4,177)
------------- ------------- ------------- -------------
Net income (loss)......................... $ 30,976 $ (87,238) $ (18,659) $ (74,921)
------------- ------------- ------------- -------------
------------- ------------- ------------- -------------
</TABLE>
UMC AND AHO FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1998, AND FOR THE TWO
MONTHS ENDED SEPTEMBER 30, 1998, RESPECTIVELY:
<TABLE>
<CAPTION>
Adjustments/ Consolidated
UMC AHO Eliminations UMC
------------- ------------- ------------- --------------
<S> <C> <C> <C> <C>
External revenue.......................... $ 3,359,351 $ 403,823 $ -- $ 3,763,174
Operating expenses........................ 3,015,039 339,901 -- 3,354,940
Medicare Home Office costs allocation..... (50,000) 50,000 -- --
Bad debts................................. 26,914 92,164 -- 119,078
Depreciation and amortization............. 65,733 1,396 18,659 85,788
Interest expense.......................... 8,229 7,600 -- 15,829
Interest (income)......................... (5,921) -- -- (5,921)
------------- ------------- ------------- --------------
Net income (loss)......................... $ 299,357 $ (87,238) $ (18,659) $ 193,460
------------- ------------- ------------- --------------
------------- ------------- ------------- --------------
</TABLE>
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UMC AND AHO AT SEPTEMBER 30, 1998:
<TABLE>
<CAPTION>
Adjustments/ Consolidated
UMC AHO Eliminations UMC
------------- ------------- ------------- ------------
<S> <C> <C> <C> <C>
Assets:
Cash................................. $ 215,394 $ 65,860 $ -- $ 281,254
Accounts receivable, net............. 381,129 273,782 -- 654,911
Intangible assets, net............... -- -- 1,109,877 1,109,877
Other assets......................... 686,663 31,966 (348,992) 369,637
------------- ------------- ------------- ------------
Total Assets.............................. $ 1,283,186 $ 371,608 $ 760,885 $ 2,415,679
------------- ------------- ------------- ------------
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Liabilities:
Current installments on
long-term debt.................. $ 66,777 $ 244,591 $ -- $ 311,368
Long-term debt, excluding
current portion.................. 52,707 190,955 -- 243,662
Accrued Medicare settlement -- 540,094 -- 540,094
Other liabilities.................... 466,919 621,800 (348,992) 739,727
------------- ------------- ------------- ------------
Total liabilities......................... $ 586,403 $ 1,597,440 $ (348,992) $ 1,834,851
------------- ------------- ------------- ------------
------------- ------------- ------------- ------------
Stockholders' Equity:..................... $ 696,783 $ (1,225,832) $ 1,109,877 $ 580,828
</TABLE>
UMC AND AHO AT DECEMBER 31, 1997:
<TABLE>
<CAPTION>
Adjustments/ Consolidated
UMC AHO Eliminations UMC
------------- ------------- ------------- -------------
<S> <C> <C> <C> <C>
Assets:
Cash................................. $ 275,948 $ -- $ -- $ 275,948
Accounts receivable, net............. 430,069 -- -- 430,069
Intangible assets, net............... -- -- -- --
Other assets......................... 378,544 -- -- 378,544
------------- ------------- ------------- -------------
Total Assets.............................. $ 1,084,561 $ -- $ -- $ 1,084,561
------------- ------------- ------------- ------------
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Liabilities:
Current installments on
long-term debt.................. $ 53,171 $ -- $ -- $ 53,171
Long-term debt, excluding
current portion.................. 84,368 -- -- 84,368
Accrued Medicare settlement -- -- -- --
Other liabilities.................... 499,591 -- -- 499,591
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Total liabilities......................... $ 637,130 $ -- $ -- $ 637,130
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Stockholders' Equity:..................... $ 447,431 $ -- $ -- $ 447,431
</TABLE>
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
UNITED MEDICORP, INC.
(REGISTRANT)
By: /s/ R. Kenyon Culver Date: November 16, 1998
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R. Kenyon Culver
Vice President and Chief Financial Officer
(Principal Accounting Officer)
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