UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER 0-14443
CUSIP NUMBER 940901 200
(Check One): /X/ Form 10-K / / Form 20-F / / Form 11-K
/ / Form 10-Q / / Form N-SAR
For Period Ended: October 31, 1996
/ / 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:
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
WASTE TECHNOLOGY CORP.
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Full Name of Registrant
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Former Name if Applicable
5400 RIO GRANDE AVENUE
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Address of Principal Executive Office (Street and Number)
JACKSONVILLE, FLORIDA 32254
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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;
/X/ (b) The subject annual report, semi-annual report, transition report on
Form 10-K, 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 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, 11-K, 10-Q, N-SAR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
Registrant is unable to complete financial statements in time to file by January
29, 1997 filing date.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Morton S. Robson (212) 949-1860
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(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 reports) 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.
WASTE TECHNOLOGY CORP.
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(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date: January 28, 1997 By /s/ Morton S. Robson
Executive Vice-President
Secretary
In fiscal 1995 the Registrant's earnings were $0.33 per share.
In fiscal 1996 it is anticipated that there will be a loss of $0.20
per share. In fiscal 1996, the primary cause of the Registrant's
loss were the operating losses of the Registrant's new subsidiary,
International Press and Shear Corp. ("IPS"), which was formed in
June, 1995 and did not commence operations until March, 1996. The
operations of all other subsidiaries of the Registrant, however,
resulted in a net operating profit. The Registrant also set up a
reserve of $49,840 for the balance of a real estate venture
receivable which it now deemed uncollectible. Finally, due to the
loss in 1996, the Registrant reversed a deferred tax asset set up
in 1995 in the amount of $413,000.
The losses of IPS were the result of start-up costs and the
significant drop in corrugated board and paper prices in the
recycled products market. IPS operations are now running
efficiently and have been reduced to a level which is commensurate
with sales levels anticipated in view of current market conditions.
It is the objective of the Company to get IPS to a profitable or
near break-even level by the end of 1997.