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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
0-8425
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Commission File Number
[X] Form 10QSB Annual Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the quarter ended APRIL 30, 2000
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
PART I---REGISTRANT INFORMATION
SILVER ASSETS, INC.
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(Exact name of small business issuer as specified in its charter)
California 95-2369956
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(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
19320 Sonoma Highway, Sonoma, CA 95476
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(Address of principal executive offices)
(707)935-3284
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(Issuer's telephone number)
Not Applicable
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(Former address and former fiscal year, if changed since last report)
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PART II - RULES 12B-25 (B) AND (C)
(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 on Form 10-QSB 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 12-25(c)
has been attached if applicable.
PART III - NARRATIVE
As a result of the additional work required by our outside accountants, in order
to comply with the new requirement of the exchange regarding auditor quarterly
reviews, we were unable to timely prepare financial statements for an on time
filing. As a result, the Registrant requires additional time to file the subject
report.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification::
John Durkin (707) 935 3284
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(Name) (Area Code) (Telephone Number)
(2) Check whether the issuer (1) Has filed all reports required to be filed
by Section 13 or 15(d) of the Exchange Act during the past 12 months
(or for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements for
the past 90 days.
Yes _X_ 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
SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
SILVER ASSETS, INC.
DATE: June 12, 2000 /s/ Andrew K. Simpson
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ANDREW K. SIMPSON
PRESIDENT AND CHIEF EXECUTIVE OFFICER
