UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
COMMISSION FILE NUMBER 000-23016
NOTIFICATION OF LATE FILING
(Check One): X Form 10-KSB ___Form 20-F ___Form 11-K
___Form 10-QSB ___Form N-SAR
For Period Ended: December 31, 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
Full Name of Registrant: HealthRite Inc.
Former Name if Applicable: _______________________________
Address of Principal Executive Office (Street and Number):
1145 Cronhill Drive
City, State and Zip Code: Owings Mills, Maryland 21117
<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.
[X] (b) The subject annual report, semi-annual report,
transition report on Form 10-KSB, Form 20-F, 11-K or
Form N-SAR, or portions 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
State below in reasonable detail the reasons why Forms 10-K,
20-F, 11-K, 10-Q, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed time period.
On January 23, 1998, a new board of directors of
HealthRite Inc. (the "Company") was elected as a result of a
proxy contest waged by the newly elected board of directors.
The new board of directors held its first meeting on
January 30, 1998 and elected new executive officers of the
Company. The newly elected management of the Company has
devoted its time primarily to returning the Company to
profitability and to discovering the status in which the
Company had been left under the previous management team.
In addition, the change in management necessitated the
recruitment and hiring of a new chief financial officer by
the Company. The Company is still interviewing candidates
for that position. In the interim, Bradley T. MacDonald,
the Company's President and Chief Executive Officer was
appointed as the acting Chief Financial Officer.
As a result of the change in the Company's management,
the Company was unable to engage its independent accountants
until February 1998, and the Company is still completing its
year end adjusting entries. Accordingly, the Company's
independent accountants have been unable to complete the
audit of the Company's financial statements.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to
this notification.
Stephen F. Ritner, Esq. 610 964-1480
(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 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
HealthRite Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: March 30, 1998 By/s/ Bradley T. MacDonald
Chairman and 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).
