UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12B-25
Commission File Number: 0-20686
NOTIFICATION OF LATE FILING
(Check One): |_| Form 10-K |_| Form 20-F |_| Form 11-K
|X| Form 10-Q |_| Form N-SAR
For Period Ended: June 30, 2002
[ ] 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: ____________________
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:
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PART I
REGISTRANT INFORMATION
Full Name of Registrant: Uniroyal Technology Corporation
Former Name If Applicable: ________________________________
Address of Principal Executive Office (Street and Number): 2 North Tamiami
Trail, Suite 900
City, State and Zip Code: Sarasota, FL 34236
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)
(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, 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 of transition report on Form 10-Q, or portion thereof
will be filed on or before the fifth calendar day following
the prescribed 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,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
The preparation of the Uniroyal Technology Corporation Quarterly
Report on Form 10-Q for the period ended June 30, 2002 has not been
completed due to a delay caused by the implementation of procedures
necessary to comply with Section 906 of the Sarbanes-Oxley Act of
2002.
The Company and its auditors, Deloitte & Touche LLP, are of the
opinion that the completion of the procedures necessary and the
finalization of the Quarterly Report on Form 10-Q within the
prescribed time would involve unnecessary expense and effort.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
George J. Zulanas, Jr., Exec. Vice President, Treasurer
and Chief Financial Officer 941- 361-2100
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(Name) (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).
[ 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.
It is anticipated that significant changes in the results of
operations for the Company's quarter ended June 30, 2002, as
compared to the corresponding period for the prior year, will be
reflected in the financial statements of the Registrant. The
Company expects to report an increase in revenues from continuing
operations for the three and nine month period ended June 30,
2002, from $1,164,000 and $3,334,000 for the three and nine month
periods ended July 1, 2001, respectively, to $3,470,000 and
$7,986,000 for the three and nine month periods ended June 30,
2002, respectively. The Company also expects to report an
increase in net loss of approximately 34% and 179% for the three
and nine month periods ended June 30, 2002, respectively, as
compared to the three and nine month periods ended July 1, 2001.
The aforementioned amounts are estimates only and may be subject
to further adjustment.
The Company has experienced liquidity strains, which are now
critical. At June 30, 2002, the Company's principal source of
liquidity was $114,000 of cash and $781,000 of availability under
a revolving credit facility subject to certain limitations on its
use. The ability of the Company to operate as a going concern
depends upon its ability to obtain additional financing, its
ability to continue to reduce operating costs and its ability to
generate higher sales levels.
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Uniroyal Technology Corporation
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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: August 15, 2002 By:/s/ George J. Zulanas, Jr.
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George J. Zulanas, Jr.
Executive Vice President, Treasurer
and Chief Financial Officer