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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File Number: 1-12230
CUSIP Number: 007521-10-7 Common Stock
[X] Form 10-K and Form 10-KSB [_] Form 20-F [_] Form 11-K [_] Form 10-Q and
Form 10-QSB [_] Form N-SAR
For Period Ended: December 31, 1998
[_] 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: Not Applicable
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
Part I - Registrant Information
Full Name of Registrant: ADVANCED DEPOSITION TECHNOLOGIES, INC.
Former Name if Applicable: Not Applicable
Address of Principal Executive Office:
580 Myles Standish Industrial Park
Taunton, Massachusetts 02780
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;
[X] (b) The subject Form 10-KSB will be filed on or before April 15, 1999,
the fifteenth calendar day following March 31, 1999, the prescribed
due date;
[ ] (c) The accountant's statement or other exhibit required by Rule 12b-
25(c) has been attached if applicable.
Part III - Narrative
The Registrant could not file its annual report on Form 10-KSB for the
fiscal year ended December 31, 1998 on the prescribed filing date for the
following reasons:
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On December 20, 1997, the Registrant purchased 65% of the capital stock of
Alexander Boxall, S.A., a corporation organized under the laws of Spain (the
"Subsidiary"). The Company's management is still in the process of determining
certain accounting entries and accounting disclosures relating to the operations
of the Subsidiary in the financial statements for the fiscal year ended December
31, 1998. As a result, the Registrant is not able without unreasonable effort
or expense to file its Form 10-KSB on or prior to the prescribed filing date of
March 31, 1999.
In addition, the Company recently hired a new controller (the principle
accounting officer of the Registrant) and the new controller is still in the
process of determining certain accounting entries and accounting disclosures in
the financial statements for the fiscal year ended December 31, 1998. As a
result, the Registrant is not able without unreasonable effort or expense to
file its Form 10-KSB on or prior to the prescribed filing date of March 31,
1999.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Joseph Keller, Controller (508) 823-0707
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(Name) (Tel. No.)
(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
The Registrant anticipates that it will report a net loss of approximately
$2,300,000 for the fiscal year ended December 31, 1998 compared to a net loss of
$112,000 for the year ended December 31, 1997. Financial results for the 1998
fiscal year were negatively impacted primarily by a decrease in sales of the
Registrant's microwave browning and crisping bags, as well as by an increase in
operating expenses. A more detailed discussion of results of operations will be
included in the Management's Discussion and Analysis of Financial Condition and
Results of Operations in the Form 10-KSB to be filed.
Advanced Deposition Technologies, Inc. has caused this notification to be
signed on its behalf by the undersigned thereunto duly authorized.
Dated this 1st day of April, 1999
ADVANCED DEPOSITION TECHNOLOGIES, INC.
By /s/ Joseph Keller
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Joseph Keller
Its Controller
