SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 000-49972
NOTIFICATION OF LATE FILING
|X| Form 10-K |_| Form 11-K |_| Form 20-F |_| Form 10-Q
|_| Form N-SAR
For Period Ended: July 31, 2006
|_| Transition Report on Form 10-K |_| Transition Report on Form 10-Q
|_| Transition Report on Form 20-F |_| 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:_________________________
________________________________________________________________________________
PART I
REGISTRANT INFORMATION
Full name of registrant: In Veritas Medical Diagnostics, Inc.
Former name if applicable: In Vivo Medical Diagnostics, Inc.
Address of principal executive office: The Greenhouse, Beechwood Business
Park North
City, state and zip code: Inverness, Scotland IV2 3BL
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;
| (b) The subject annual report, semi-annual report, transition report
| on Form 10-K, 20-F, 11-K or Form 10-Q, or portion thereof will be
| filed on or before the 15th calendar day following the prescribed
|X| | 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-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period.
The registrant is in the process of preparing and reviewing the financial
information of the Company on a consolidated basis. The process of compiling and
disseminating the information required to be included in the Form 10-KSB for the
relevant fiscal year, as well as the completion of the required review of the
Company's financial information on a consolidated basis, could not be completed
without incurring undue hardship and expense. The registrant undertakes the
responsibility to file such quarterly report no later than fifteen days after
its original due date.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Martin Thorp (011 44) 207-499-1730
(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.
For the year ended July 31, 2005, the registrant had revenues of $879,847
and a net loss of $2,450,792 for the year ended July 31, 2006, the registrant
had revenues of approximately $1,250,000 and a net loss of approximately
$1,700,000. Results for the year ended July 31, 2006 remain subject to further
adjustment and actual results may vary significantly from the foregoing
estimates. The improvement in revenues and decrease in net loss is attributable
to greater revenue generating development activity and tighter control over
costs and expenses.
In Veritas Medical Diagnostics, Inc.
Name of Registrant as Specified in Charter.
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Date: October 30, 2006 By: /s/ Martin E. Thorp
-------------------
Name: Martin E. Thorp
Title: Chief Financial Officer