FORM 12b-25
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
NOTIFICATION OF LATE FILING
(Check One):
[ X ] Form 10-K or Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q or
Form 10-QSB [ ] Form N-SAR
For Period Ended: December 31, 1998
[ ] Transition Report on Form 10-K or Form 10-KSB
[ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K
[ ] Transition Report on Form 10-Q [or Form 10-QSB]
[ ] Transition Report on Form N-SAR
For the Transition Period Ended:
Commission File Number: 000-24366
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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:
Part I - Registrant Information
Full Name of Registrant: Goran Capital Inc.
Former Name If Applicable: N/A
Address of Principal Office: 181 University Avenue, Suite 1101
City, State and Zip Code: Toronto, Ontario Canada M5H 3M7
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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;
[ ] (b) The subject annual report, semi-annual report, transition report
on Form 10-K or Form 10-KSB, Form 20-F, 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 Form 10-QSB], 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 the Rule
12b-25(c) has been attached if applicable.
Part III - Narrative
The Company's financial statements and related disclosures as of and for the
year ended December 31, 1998, are not yet completed. In connection with the
acquisition made in the crop division, the Company is currently attempting to
resolve a discrepancy in one of the balance sheet accounts of the acquired
enterprise. Completion is expected shortly and within the extended due date.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification.
Alan G. Symons 317 259-6302
Chief Executive Officer
Gary P. Hutchcraft 317 259-6414
Vice President and Chief Financial Officer
(2) Have all other periodic reports required under [X] YES [] NO
Section 13 or 15(d) of the Securities Exchange
Act of 1934 of 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).
(3) Is it anticipated that any significant change in [X] YES [] NO
results of operation 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? 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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The Company issued a press release on March 2, 1999 with quantitative and
narrative description of these changes.
GORAN CAPITAL INC.
(Name of Registrant as specified in charter)
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
March 31, 1999 By: /s/ Alan G. Symons
Chief Executive Officer
March 31, 1999 By: /s/ Gary P. Hutchcraft
Vice President and Chief Financial Officer
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