UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One): | ☒ Form 10-K ☐ Form 20-F ☐ Form 11-K ☐ Form 10-Q ☐ Form 10-D ☐ Form N-CEN ☐ Form N-CSR |
For Period Ended: December 31, 2021 | |
☐ Transition Report on Form 10-K | |
☐ Transition Report on Form 20-F | |
☐ Transition Report on Form 11-K | |
☐ Transition Report on Form 10-Q | |
For the Transition Period Ended: _______________________________________ |
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
Madison Technologies, Inc.
Full Name of Registrant
Former Name if Applicable
450 Park Avenue, 30th Floor
Address of Principal Executive Office (Street and Number)
New York, New York 10022
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 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, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN 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 why the Form 10-K, 20-F, 11-K, 10-Q,10-D, N-CEN, N-CSR or the transition report portion thereof, could not be filed within the prescribed time period. (Attach extra sheets if needed.)
The compilation, dissemination and review of the information required to be presented in the Form 10-K for the relevant fiscal year has imposed time constraints that have rendered timely filing of the Form 10-K impracticable without undue hardship and expense to the registrant. The registrant undertakes the responsibility to file such annual report no later than 15 days after its original due date.
-1- |
PART IV — OTHER INFORMATION
(1) | Name and telephone number of person to contact in regard to this notification |
Philip A. Falcone | (212) | 339-5800 | ||
(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).
☒ 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 ☐ 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.
As a result of the Company’s acquisition of Sovryn Holdings, Inc. (“Sovryn”) on February 16, 2021, Sovryn’s asset acquisitions and the changes in the Company’s business during the fiscal year ended December 31, 2021, the Company’s results of operations for the fiscal year ended December 31, 2021 that will be included in the Annual Report will include changes when compared to the results of operations of the Company included in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2020. However, due to the continuing preparation of the financial statements of the Company, the Company at this time cannot provide a reasonable estimate of the results of operations for the year ended December 31, 2021.
-2- |
Madison Technologies, 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 | March 29, 2022 | By | /s/ Philip A. Falcone | |
Philip A. Falcone | ||||
Chief Executive Officer |
-3- |