U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(CHECK ONE):
[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: February 28, 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:
- --------------------------------------------------------------------------------
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:
N/A
- --------------------------------------------------------------------------------
PART I--REGISTRANT INFORMATION
- --------------------------------------------------------------------------------
Solitron Devices, Inc.
-------------------------------------------------------------------------
Full Name of Registrant (Former Name if Applicable)
3301 Electronics Way
-------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
West Palm Beach, Florida 33407
-------------------------------------------------------------------------
City, State and Zip Code
- --------------------------------------------------------------------------------
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 annual report, semi-annual report, transition report on
Form 10-K, Form 20-F, Form 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 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.
<PAGE>
- --------------------------------------------------------------------------------
PART III--NARRATIVE
- --------------------------------------------------------------------------------
Registrant has a new principal accounting officer and due to the
Registrant's financial situation, it has limited resources and
limited personnel available to assist in the preparation of such
Form 10-KSB. As a result of the foregoing, the preparation of
such Form 10-KSB has been delayed.
- --------------------------------------------------------------------------------
PART IV--OTHER INFORMATION
- --------------------------------------------------------------------------------
(1) Name and telephone number of person to contact in regard to this
notification
Shevach Saraf (561) 848-4311
- -------------------------------- ----------- ------------------
(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.
It is anticipated that the results of operations will significantly
differ from the corresponding period in the prior year principally
as a result of the prior year including debt forgiveness in
connection with bankruptcy proceedings and in connection with changes
in the business and operations of the Registrant. The amount of
the difference cannot presently be determined due to the reasons
described in Part III above.
Solitron Devices, Inc.
------------------------------------------------------------------------------
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: 5/28/98 By: /s/ Shevach Saraf
-------------------------- ----------------------------------
Name: Shevach Saraf
Title: Chairman of the Board,
Chief Executive Officer,
President and Treasurer
