SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
COMMISSION FILE NUMBER
0-20722
(Check One):|X| Form 10-K |_|Form 20-F |_|Form 11-K | | Form 10-Q| _| Form N-SAR
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CUSIP NUMBER
651362105
For Period Ended: 5/31/99
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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:
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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.
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If the notification relates to a portion of the filing checked above, identify
the item(s) to which the notification relates:
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PART I -- REGISTRANT INFORMATION
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Full Name of Registrant
PML, INC.
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Former Name if Applicable
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Address of Principal Executive Office (Street and Number)
27120 SW 95th Avenue
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City, State and Zip Code
Wilsonville, Oregon 97070
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<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 appropriate box.)
|_| (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, Form 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 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
The Registrant continues to utilize two separate accounting systems and has been
finalizing the new accounting and MIS system this fiscal year. As part of this,
the registrant and outside auditors have spent additional time in testing the
financial information in order to insure its accuracy. The Registrant
anticipates filing well within the time period permitted under Rule
12b-25(b)(2)(ii).
PART IV--OTHER INFORMATION
(1)Name and telephone number of person to contact in regard to this notification
Ron Horne, Vice President - Finance (503) 570-2500
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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.
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PART IV--OTHER INFORMATION, ATTACHMENT
(3) Explanation of significant change anticipated:
For fiscal 1999, the Registrant expects to incur net losses before income taxes
of $264,000 as compared to net income before taxes of $86,000 during fiscal
1998. This decrease in net income is primarily attributable to higher costs of
goods sold this year over the prior year. The increased cost of goods sold will
be discussed in detail in the MD&A section of the Form 10-KSB.
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PML, 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
hereunto duly authorized.
Date August 30, 1999 By /s/Ron Horne
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Ron Horne, Vice President - Finance
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
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Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
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GENERAL INSTRUCTIONS
1. This form is required by Rule 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 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.
Securities and Exchange Commission
Washington, D.C. 20549
We were retained by PML, Inc. as independent certified public accountants to
report on the consolidated financial statements as of and for the year ended May
31, 1999. We have had to spend additional time in analyzing data due to the two
separate accounting systems the client maintains and therefore, as of August 29,
1999, the required filing date for the Registrants Annual Report on Form 10-KSB,
have not formed an opinion on the Company's consolidated financial statements.
The information is expected to be received in time to meet the filing extension
deadline provided by Form 12b-25.
/s/ Moss Adams LLP
August 29,1999
Beaverton, Oregon