U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
[ ] Form 10-K [ ] Form 20F [ ] Form 11-K [x] Form 10-Q [ ] Form N-SAR
For Period Ended: June 30, 2000
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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: ________________
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: NOCOPI TECHNOLOGIES, INC.
Address of Principal 537 Apple Street
Executive Office: West Conshohocken, PA 19428
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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) [Section 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;
[ ] (b) (i) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20F, 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
[x] (ii) 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.
[x] (c) The accountant's statement or other exhibit required by Rule
12b-25(c) has been attached if applicable. (Statement is not required and has
not been attached)
PART III - NARRATIVE
Registrant is required to include in its financial statements forming part of
the subject report the results of Euro-Nocopi, SA ("Euro"), a French
corporation, based on the equity method of accounting. The financial information
concerning Euro necessary to complete the preparation of Registrant's financial
statements in accordance with such requirement has not yet been furnished to
Registrant by Euro. As a consequence, Registrant's management has been unable to
complete the preparation of Registrant's financial statements and Registrant's
independent accountants have been unable to complete their quarterly review of
Registrant's financial statements.
PART IV - OTHER INFORMATION
(1) Name and address of person to contact in regard to this notification:
Thomas F. Hurley, Esq.
Hangley Aronchick Segal & Pudlin
One Logan Square - 27th Floor
Philadelphia, PA 19103
Telephone: (215) 496-7056
(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
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(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 on information currently available to Registrant, its net loss is
anticipated to decrease from $392,400 for the six months ended June 30, 1999 and
$86,500 for the three months ended June 30, 1999 to approximately $135,000 for
the six months ended June 30, 2000 and approximately $62,000 for the three
months ended June 30, 2000. The reduction in the second quarter net loss from
the year earlier period resulted primarily from the reductions in research and
development, selling and general and administrative expenses associated with
staff reductions by Registrant, substantially offset by reductions in revenue
and gross profit. The year to year reduction in net loss from the first half of
1999 to the first half of 2000 resulted from the same factors, and from the
non-recurrence of the severance expense associated with the departure of the
Registrant's President and Chief Executive Officer during the first quarter of
1999.
The foregoing does not reflect changes to Registrant's financial results that
may occur as a result of the inclusion therein of Euro's results in accordance
with the equity method of accounting. Such changes may increase or decrease
Registrant's net loss.
NOCOPI TECHNOLOGIES, INC.
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(Name of Registrant)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: August 14, 2000 By: /s/ Rudolph A. Lutterschmidt
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Rudolph A. Lutterschmidt,
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.
