Essential Innovations Technology (ESIV) Inactive
Filed: 15 Jun 06, 12:00am
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SEC FILE NUMBER
000-106839
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CUSIP NUMBER
29669E 10 0
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FORM 12b-25
NOTIFICATION OF LATE FILING
(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: April 30, 2006
[ ] 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 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
Essential Innovations Technology Corp.
________________________________________________________________________________
Full Name of Registrant
n/a
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Former Name if Applicable
114 West Magnolia Street, Suite 400-142
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Address of Principal Executive Office (Street and Number)
Bellingham, WA 98225
________________________________________________________________________________
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)
(a) The reason 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
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be
filed within the prescribed time period.
The Company's quarterly report on Form 10-QSB could not be filed within the
prescribed time because the Company has faced significant challenges integrating
the accounting systems of the recently-acquired entities, Earth Source Energy,
Inc., and Pacific Geo Exchange, Inc., to conform with the Company's accounting
procedures and principles.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Jason McDiarmid 360 392-3902
(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?
[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.
The Company currently anticipates reporting a loss of approximately
$5,561,000 for the six months ended April 30, 2006, which is
significantly greater than the net loss of $848,000 for the same period
of the prior fiscal year, on revenues of $594,000, cost of sales of
$380,000, and expenses of $5,775,000, which substantially exceed the
revenues, cost of sales, and expenses of $73,000, $51,000, and
$871,000, respectively, for the same period in the prior year. The
anticipated increased loss is due primarily to $1,938,000 of financing
costs related to the acquisition of the new operating subsidiaries and
converting accrued expenses and $1,854,000 in remuneration costs
related to renewal of contracts and recording options granted in
accordance with FASB 123R.
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Essential Innovations Technology Corp.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: June 15, 2006 By /s/ Jason McDiarmid
Jason McDiarmid
Chief Executive Officer
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