SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
COMMISSION FILE NUMBER: 0-29672
--------
NOTIFICATION OF LATE FILING
---------------------------
(Check One):
[ X ] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q
For Period Ended: September 30, 1998
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: Forecross Corporation
----------------------
Former Name if Applicable:
Address of Principal Executive Office (Street and Number): 90 New Montgomery St.
---------------------
City, State and Zip Code: San Francisco, California 94105
----------------------------------
Page 1 of 3
<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 or portion thereof will be filed on or
before the 15th calendar day following the prescribed due date; or
the subject quarterly report 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 Form 10-K, 11-K, 20-F or 10-Q
or portion thereof could not be filed within the prescribed time period.
The Registrant's Annual Report on Form 10-K for the fiscal year ended
---------------------------------------------------------------------------
September 30, 1998 could not be filed within the prescribed time period
---------------------------------------------------------------------------
because the Registrant, a first time filer of Form 10-K, has experienced
---------------------------------------------------------------------------
unanticipated delays in the collection and compilation of certain
---------------------------------------------------------------------------
information required to be included in the Form 10-K, and in the completion
---------------------------------------------------------------------------
of the drafting of the Form 10-K for filing. Such delays could not be
---------------------------------------------------------------------------
eliminated by the Registrant without unreasonable effort or expense. The
---------------------------------------------------------------------------
Form 10-K will be filed as soon as practicable, but in no event later than
---------------------------------------------------------------------------
the fifteenth calendar day following the prescribed due date.
-------------------------------------------------------------
Page 2 of 3
<PAGE>
PART IV - OTHER INFORMATION
- - -------------------------------
(1) Name and telephone number of person to contact in regard to this
notification:
Andrew J. Cosentino, Esq. (212) 801-9304
---------------------------- ---------------
(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 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.
Fiscal 1997 net loss was $1,045,511; 1998, but fiscal 1998 net loss was
---------------------------------------------------------------------------
$2,328,652. Revenues increased from $5,775,038 in fiscal 1997 to
---------------------------------------------------------------------------
$7,168,752, but this was more than offset by increases in sales and (from
---------------------------------------------------------------------------
marketing expenses (from $1,490,479 in fiscal 1997 to $1,838,126 in fiscal
---------------------------------------------------------------------------
1998), research and development expenses (from $1,006,768 in fiscal 1997
---------------------------------------------------------------------------
to $1,520709 in fiscal 1998), general and administrative expenses (from
---------------------------------------------------------------------------
$887,039 in fiscal 1997 to $1,413,312 in fiscal 1998), and net interest
---------------------------------------------------------------------------
expense (from $68,855 in fiscal 1997 to $305,110 in fiscal 1998). The
---------------------------------------------------------------------------
Registrant's backlog decreased from $4,281,000 (including approximately
---------------------------------------------------------------------------
$615,000 of work to be performed after fiscal 1998) at the end of fiscal
---------------------------------------------------------------------------
1997 to $531,000 at the end of fiscal 1998.
-------------------------------------------
FORECROSS CORPORATION
---------------------
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: December 30, 1998 By: /s/ Bernadette C. Castello
Name: Bernadette C. Castello
Title: Senior Vice President and
Chief Financial Officer
Page 3 of 3
