(Check One): ¨ Form 10-KSB ¨ Form 20-F ¨ Form 11-K x Form 10-QSB ¨ Form N-SAR ¨ Form N-CSR | UNITED STATES | |||
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | ||||
FORM 12b-25 | ||||
NOTIFICATION OF LATE FILING |
Commission File Number: 001-15775
For the Period Ended: March 31, 2006 | ||
¨ Transition Report on Form 10-K and Form 10-KSB | ||
¨ Transition Report on Form 20-F | ||
¨ Transition Report on Form 11-K | ||
¨ Transition Report on Form 10-Q and Form 10-QSB | ||
¨ Transition Report on Form N-SAR | ||
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
Global ePoint, Inc.
Full name of registrant:
N/A
Former name if applicable:
339 South Cheryl Lane
Address of principal executive office (street and number):
City of Industry, California 91789
City, State and Zip Code:
PART II — RULE 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; | ||
(b) | The subject annual report, semi-annual report, transition report on Forms 10-K, 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on or before the 15th calendar day following the prescribed due date; or the subject quarterly report or 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 | |||
(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, 10-KSB, 11-K, 20-F, 10-Q, 10-Q, N-SAR, or the transition report portion thereof, could not be filed within the prescribed time period:
Global ePoint, Inc. was unable to file its Quarterly Report on Form 10-QSB for the quarter ended March 31, 2006 due to delays in completing the testing and analysis procedures prerequisite to the completion of its quarterly financial statements.
PART IV — OTHER INFORMATION
(1) | Name and telephone number of person to contact in regard to this notification: |
Toresa Lou (Name) | (909) (Area Code) | 869-1688 (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 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 ¨ |
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.
We expect to report net sales of approximately $7.3 million for the quarter ended March 31, 2006, compared to net sales of approximately $5.5 million in the first quarter of 2005. Our gross profit decreased from $1.2 million in the first quarter of 2005 compared to gross profit of $0.8 million in the first quarter of 2006. The decrease in gross profit was primarily due to an increase in the amount of lower margin maintenance services provided by our Aviation Division and an increase in sales of lower margin consumer computer products from our Contract Manufacturing Division. We expect to report a net loss of approximately $2.1 million for the first quarter of 2006, compared to a net loss of approximately $1.7 million in the first quarter of 2005. The foregoing financial information is subject to completion of our financial statements to be included in our Quarterly Report on Form 10-QSB.
SIGNATURES
GLOBAL EPOINT, 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: May 16, 2006 | By: | /s/ Toresa Lou | ||
Toresa Lou | ||||
Its: | Chief Executive Officer |