UNITED STATES
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FORM 12b-25
Sagittarius
NOTIFICATION OF LATE FILING | SEC. FILE NUMBER | ||||||
Check One): o Form 10-K and Form 10-KSB o Form 20-F Form 11-K xForm 10-Q and Form 10-QSB o Form N-SAR | CUSIP NUMBER 44176R 10 6 | ||||||
| For Period Ended: March 31, 2006 |
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| o Transition Report on Form 10-K |
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| o Transition Report on Form 20-F |
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| o Transition Report on Form 11-K |
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| o Transition Report on Form 10-Q |
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| o Transition Report on Form N-SAR |
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| For the Transition Period Ended: |
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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 HOUSE OF TAYLOR JEWELRY, INC. |
Not applicable |
9200 Sunset Blvd., Suite 425 West Hollywood, CA 90069 |
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 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 of 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 |
o | (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 Forms 10-K and 10-KSB, 20-F, 11-K, 10-Q, N-SAR, or the transition report on portion thereof, could not be filed within the prescribed time period.
Registrant has experienced delays in receiving material information needed for presentation within its Form 10-QSB for the relevant fiscal quarter and the resulting time constraints have rendered timely filing impracticable without undue hardship and expense to the registrant. Registrant intends to file its Form 10-QSB promptly after such quarterly reporting is finalized and in any event by May 22, 2006.
Registrant’s prior filings have disclosed that it has focused on creating new product lines, building the infrastructure necessary to introduce them under licensing agreements acquired in mid 2005 and phasing out sales of its existing products that were not a part of the licensed products as envisioned by the licensing agreements. While revenues were slightly higher in the first quarter of 2006 as compared to the same period in 2005 due to extra closeout sales, we expect to record a net loss of approximately $2 million in quarter ended March 31, 2006 as compared to a net loss of approximately $350,000 in the same 2005 period. Included in this loss are non-cash expenses of approximately $600,000. Our basic and diluted loss per share is expected to be $0.05 in 2006 versus $0.01 in 2005. The weighted average shares outstanding for 2005 was 38,285,281 as compared to 28,500,000 for 2005. The quarterly review of our financial statements is currently in progress and as s uch these estimated differences could change based on the final results.
PART IV - OTHER INFORMATION
(1)
| Name and telephone number of person to contact in regard to this notification |
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Pauline Schneider
Chief Financial Officer
(Name)
(310) 860-2660
(Area Code and 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 answer is no, identify report(s).
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x Yes o 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?
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x Yes o No |
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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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HOUSE OF TAYLOR JEWELRY, INC.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 15, 2006
/s/ Pauline Schneider
Pauline Schneider
Chief Financial Officer
INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.
