SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number
NOTIFICATION OF LATE FILING
(Check One):[X]Form 10-KSB [ ]Form 11-K [ ]Form 20-F [ ]Form 10-Q [ ]Form N-SAR
For Period Ended: December 31, 1996
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
Read attached instruction sheet 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.
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
Full name of registrant: Paradigm Advanced Technologies, Inc.
Former name if applicable: N/A
Address of principal executive office (Street and number):
5140 Yonge St., Suite 1525
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City, State and Zip Code: North York, Ontario, Canada M2N 6L7
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 appropriate box.)
[ X ] (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-KSB, 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 Form 10-KSB, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be filed
within the prescribed time period. (Attach extra sheets if needed.)
In February 1997 the Company's sole accounting employee left the
Company prior to completion of the Company's audit of its 1996 results.
Following the employee's departure, the Company hired a new controller who
is currently working to complete the 1996 audit and the management's
discussion portion of the Form 10-KSB. However, due to the extra time
required for the new controller to sufficiently acquaint himself with the
financial records of the Company, and the difficulties presented by the lack
of staff familiar with records of the Company, the Company is unable to file
its Form 10-KSB, for the period ended December 31, 1996, without unreasonable
effort or expense.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Jack Y.L. Lee (416) 222-9629
(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 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.
The Company is a development stage company, incorporated on January 12,
1996. It was not operational during the corresponding period for the last
fiscal year.
Paradigm Advanced Technologies, Inc., has caused this notification to be
signed on its behalf by the undersigned
thereunto duly authorized.
Date March 31, 1997 By: /s/ Jack Lee
Name: Jack Lee
Title: Chief Executive Officer and
Secretary Treasurer