SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 0-25828
NOTIFICATION OF LATE FILING
[ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q [ ] Form N-SAR
For Period Ended: June 30, 2000
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
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
Full Name of Registrant: Electropharmacology, Inc.
Address of Principal Executive Office: 12085 Research Drive
City, State and Zip Code: Alachua, Florida 32615
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 appropriate box).
[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, 20-F, 11-K or Form N-SAR, or portion thereof, will be
filed on or before the 15th 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 has been attached if applicable.
Part III.
NARRATIVE
State below in reasonable detail the reasons why Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period. (Attach extra sheets if needed).
Management is currently devoting substantially all its resources to
obtaining additional financing for the Company and pursuing other transactional
opportunities. Due to the foregoing reason, Registrant requires additional time
to finalize its interim financial statements.
Part IV.
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Arup Sen (904) 462-2249
(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.
[NOTE: IF ITEM 3 ABOVE IS ANSWERED YES, AN EXPLANATION SHOULD BE PROVIDED.
IF THE ANSWER IS NO, NOTHING FURTHER IS REQUIRED.]
Net loss after preferred stock dividend is expected to decrease to $446,639
for the three months ended June 30, 2000 as compared to $599,030 for the three
months ended June 30, 1999 due primarily to a $421,621 decrease in operating
expenses, offset in part by a $17,131 decline in revenues between the two
periods. Operating expenses were reduced due to cost containment and
downsizing, while revenues in the three months ended June 30, 2000 included
$96,500 in grant revenue as compared to no grant revenue in the corresponding
1999 period. The decline in operating loss between the two periods was offset
in part by a $192,810 credit in the three month period ended June 30, 1999,
representing the prior limited partners' minority interest in losses
attributable to a limited partnership which was previously owned in part,
and is now fully owned, by the Registrant, with no such credit in the comparable
period in 2000.
Electropharmacology, 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: August 14, 2000 By: /s/ Arup Sen
Arup Sen
Chairman and Chief Executive Officer
