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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
Commission File Number: 000-20786
NOTIFICATION OF LATE FILING
(Check One): [x] Form 10-K [_] Form 11-K [_] Form 20-F [_] Form 10-Q
[_] Form N-SAR
For Period Ended: December 31, 1999
[_] 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
Leapfrog Smart Products, Inc.
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Full Name of Registrant
Albara Corporation
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Former Name if Applicable
1101 Maitland Center Commons
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Address of Principal Executive Office (Street and Number)
Maitland, FLorida 32751
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City, State and Zip Code
<PAGE>
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 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;
| (b) The subject annual report, semi-annual report, transition report
| on Form 10-K, Form 20-F, Form 11-K or Form N-SAR, or portion
[x] | 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 why the Form 10-K, 11-K, 20-F 10-Q, N-SAR
or the transition report portion thereof could not be filed within the
prescribed time period. (Attach extra sheets if needed.)
The Registrant's Annual Report on Form 10-K requires the filing of certain
financial statements of the predecessor corporation, Albara Corporation
("Albara"). Despite repeated requests by the Registrant, Albara has not yet
provided those financial statements as prepared under generally accepted
accounting principles, as required by the staff's current interpretation of the
financial reporting rules that apply to the Registrant. The Registrant cannot
file an Annual Report on Form 10-K complying with the staff's current
interpretation of these rules until Albara provides it with financial statements
prepared in this manner.
Also, a request for relief, pursuant to Staff Accounting Bulletin
53, from separate reporting under the Securities Exchange Act will be filed
with the Securities and Exchange Commission on April 5, 2000. The Registrant
believes that preparation of the Albara financial statements will be
burdensome based upon the above stated explanation, and hope to be granted
relief from the requirement to file such reports.
<PAGE>
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Adam Clavell, Esq. (401) 272-5800
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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?
[_] Yes [x] 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.
Leapfrog Smart Products, Inc.
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(Name of Registrant as Specified in Charter)
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
By: Leapfrog Smart Products, Inc.
Date: March 30, 2000 By: /s/ James Gornto
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James Gornto
Secretary
