UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
SEC FILE NUMBER
NOTIFICATION OF LATE FILING 0-17204
CUSIP NUMBER
45663L 40 3
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: December 31, 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: __________________
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
INFINITY, INC.
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Full Name of Registrant
211 WEST 14TH STREET
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Address of Principal Executive Office (Street and Number)
CHANUTE, KANSAS 66720
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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, 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 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 has been attached if applicable.
PART III - NARRATIVE
State below in reasonable detail the reasons why the Form 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 Company encountered a delay in receiving the reserve reports
prepared by independent reserve engineers relating the Company's
oil and gas assets. This has delayed the completion of the
financial statements and certain related disclosures to be
included in the Annual Report on Form 10-KSB.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Jon D. Klugh 620 431-6200
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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.
The Company expects to report a pre-tax net loss of $(2.7) million
compared to net income before taxes of $5.2 million for the
unaudited twelve month period ended December 31, 2001. The Company
also expects to report a net loss after taxes for the year ended
December 31, 2002, of $(1.6) million compared to net income of
$3.2 million for the unaudited twelve month period ended December 31,
2001. Decreased sales in the Powder River Basin of Wyoming by the
Company's Consolidated Oil Well Services, Inc. subsidiary,
increased depreciation on equipment utilized in the oil field
service business and increased costs associated with SEC filings,
staffing and oil production operations all contributed to the
reduction in net income after taxes in the year ended December 31,
2002 compared to the period ended December 31, 2001. The Company
also recognized a gain on the sale of Evergreen stock in the 2001
period that it did not have in the 2002 period.
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INFINITY, INC.
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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: March 31, 2003 By: /s/ Jon Klugh
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Jon Klugh, Chief Financial Officer