SEC FILE NUMBER: 0-26790
CUSIP NUMBER:
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): [ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [x]Form 10-Q [ ]Form N-SAR
For Period Ended: September 30, 1997
[ ] 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 Instruction (on back page) 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
Innovus Corporation
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Full Name of Registrant
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Former Name if Applicable
392 East 12300 South, Suite J
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Address of Principal Executive Office (Street and Number)
Draper, Utah 84020
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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) [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, 11-K, 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 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, 10-Q,
N-SAR, or the transition report or portion thereof, could not be
filed within the prescribed time period. (Attach Extra Sheets If Needed)
Management's time has been occupied evaluating the positioning of the
Company's current and future products and developing a new business
plan in line with the Company's available and expected resources.
As part of the changes in business plan, the Company sold its building
and relocated its offices. Coupled with recent downsizing of
administrative personel, management did not have the ability to
complete the report in a timely fashion.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
David M. Mock (801) 576-9333
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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 reports) been filed?
If 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.
Based upon preliminary numbers, sales for the 3 and 9 months ended
September 30, 1997 ($14,376 and $291,235) were less than the
corresponding periods of 1996 ($185,749 and $398,849). Operating
losses for the 3 and 9 month periods ended September 30, 1997
($549,663 and $2,451,917, respectively) were signigicantly less
than the operating losses for the comparable periods of 1996
($1,548,180 and $5,022,246, respectively). This was a result from
substantial downsizing which started in the second quarter. As a
result of non-cash interest expense for warrants issued in
connection with debt, the reduction in the net loss for the current
period will not be as significant as the reduction in operating
loss. The Company did not have sufficient liquid assets at the end
of the quarter to allow it to adequately promote the existing
products or launch new products without an infusion of new
capital.
Innovus 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 November 14, 1997 By /x/
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Terry Haas, Chief Executive 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).
