UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER
000-27783
CUSIP NUMBER
928366202
(Check One): | [ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q [ ] Form 10-D |
[ ] Form N-SAR [ ] Form N-CSR
For Period Ended: June 30, 2015
[ ] 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:
Read attached instruction (on back page) Before Preparing Form. Please print or type. 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
VISTA INTERNATIONAL TECHNOLOGIES, INC.
Full Name of Registrant
Former Name if Applicable
4835 Monaco Street
Address of Principal Executive Office (Street and Number)
Commerce City, Colorado 80022
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, 11-K, Form N-SAR, or Form N-CSR, 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 subject distribution report on Form 10-D, 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.
|
PART III - NARRATIVE
THE QUARTERLY REPORT COULD NOT BE COMPLETED WITHIN THE PRESCRIBED TIME PERIOD BECAUSE THE REGISTRANT WAS UNABLE, WITHOUT UNDUE HARDSHIP AND EXPENSE, TO OBTAIN CERTAIN NECESSARY INFORMATION INDEPENDENTLY OR FROM THIRD PARTIES TO PERMIT THE COMPANY TO PREPARE THE FINANCIAL STATEMENTS IN A TIMELY MANNER.
Vista International Technologies, Inc. was unable to complete and file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2015 within the prescribed time period because of delays in obtaining, compiling and reviewing, business and financial data necessary to complete the Company’s financial statements for the quarter ended June 30, 2015.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification:
| Timothy D Ruddy | (303) | 690-8300 |
| (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 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? | Yes [X] 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.
Explanation of Anticipated Change
The figures in the disclosure below are estimated.
The Company anticipates that its second quarter 2015 revenues from operations will reflect an increase to approximately $383,000, compared to approximately $176,000 for the three months ended June 30, 2014. This increase was mainly due to the presence of additional revenue from the Company’s waste to energy segment in 2015.
The Company also estimates that the quarter ended June 30, 2015 will show an increase in the Company’s cost of revenue, as compared with the prior year. The Company expects cost of revenue of approximately $383,000 for the second quarter of 2015, compared with $143,000 for the second quarter of 2014. This increase is due to additional costs related to the sale of the Hutchins facility and additional WTE costs necessary to construct and ship the company’s gasification unit to the pilot project site
We estimate a significant decrease in our operating expenses for the quarter ended June 30, 2015, to approximately $37,000, from approximately $182,000 for the quarter ended June 30, 2014. The decrease is mainly due to overhead reduction measures by the company and absence of issuance of common stock to consultants, which occurred in the comparable period in 2014.
As a result of the above, net loss is expected to decrease significantly for the quarter ended June 30, 2015 compared to the net loss for the quarter ended June 30, 2014. However, the final adjustments needed to complete the Company’s quarterly financial statements will determine the Company’s results of operations for the quarter ended June 30, 2015. These final adjustments have not been completed, and, accordingly, a reasonable estimate of the anticipated net loss is not available at this time.
VISTA INTERNATIONAL TECHNOLOGIES, 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: August 14, 2015 | By: /s/: Timothy D Ruddy Timothy D Ruddy Interim Chief Executive 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.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).
