UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
CUSIP NUMBER
_____________
(Check One): [X] Form 10-KSB [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q
[ ] Form N-SAR
For Period Ended: October 31, 2002
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[ ] Transition Report on Form 10-KSB
[ ] 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: ____________________
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Read Instruction (on back page) Before Preparing Form. Please Print or Type.
Nothing in this form shall be construed to imply that the Commission has
verified any information contained herein.
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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
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Full name of registrant:
Waste Technology Corporation
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Former name if Applicable:
N/A
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Address of Principal Executive Office (Street and Number):
5400 Rio Grande Avenue
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City, State and Zip Code
Jacksonville, Florida 32254
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PART II -- RULES 12b-25(b) AND (c)
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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-KSB, Form 20-F, 11-K or Form N-SAR, or
[X] portion thereof, will be filed on or before the fifteenth
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 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
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State below in reasonable detail the reasons why Form 10-K, and Form 10-KSB,
10-Q and 10-QSB, N-SAR, or the transition report or portion thereof, could not
be filed within the prescribed time period. (Attach Extra Sheets if Needed)
The Company's auditors are unable to complete the financial statements of the
Company and their review of the financial statements in order for Company to
file its annual report on Form 10-KSB by the January 29, filing date. The delay
in filing is due to the fact that the Company recently reached an agreement in
principle to exchange a life insurance policy on the former president of the
Company for deferred compensation payments to the former president. This
transaction will have a material effect on the results for the period ending
October 31, 2002. The Company anticipates that this agreement will be finalized
shortly and it is expected that the Company and its auditors will be able to
complete the financial statements and the report on Form 10-KSB will be filed
prior to the expiration of the extension period.
PART IV -- OTHER INFORMATION
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(1) Name and telephone number of person to contact in regard to this
notification
William E. Nielsen (904) 355-5558
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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 report(s) been filed? If 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 [ ]
See Attached Rider to Form 12b - 25
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 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 January 29, 2003 By: /s/ William E. Nielsen
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William E. Nielsen
President
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).
Rider to Form 12b - 25
PART IV
As a result of the agreement with its former president, exchanging a life
insurance policy for deferred compensation payments, the Company will be
recording a one-time adjustment to the income of the Company for the period
ending October 31, 2002. The net income of the Company for fiscal 2002 will be
reduced by an adjustment of $463,000 resulting in net income in 2002 of $195,082
as compared to a net loss of $180,801 in fiscal 2001.