UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(X) Form 10-K ( ) Form 20-F ( ) Form 11-k ( ) Form 10-Q ( ) Form N-SAR
For Period Ended: SEPTEMBER 30, 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 Period Ended:
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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
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AGTsports, Inc.
P.O. Box 620
Tampa, FL 33601
Commission File Number: 0-21914
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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, the following should be
completed. (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 on Form 10-K will be filed on or before the
fifteenth calendar day following the prescribed due date; and
(c) The accountant's statement required by Rule 12b-25(C) has been attached as
applicable
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Part III - Narrative
As of the fiscal year end of September 30, 1996 the Registrant has two wholly
owned subsidiaries which are foreign corporations. The Registrant requests
additional time to complete its audit and that of its foreign subsidiaries to
allow a timely and accurate filing of its annual report on Form 10-KSB.
Part IV - Other Information
(1) B. Mack Devine (813) 661-3209
(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 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.
AGTsports, Inc.
has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: December 27, 1996 By: /s/ B. Mack DeVine
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Title: President
Attachment 1
AGTsports, Inc.
Form 12b-25
A very minimal amount of financial activity occurred during the fourth fiscal
quarter ending September 30, 1996. Consequently, total assets are expected to
decline from the previous year due primarily to the write-off of certain
intangible assets totaling $297,224 during earlier quarters of the current year.
Total liabilities decreased overall from September 30, 1995 because of the
removal of the liability to issue common stock upon the issuance of the actual
stock.
Only minimal revenues were realized during the current fiscal year. As noted
during the third quarter of the year, overall expenses are down due to the
restructuring of the Company's activities to reduce expenses.