SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12B-25
NOTIFICATION OF LATE FILING
0-8425
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Commission File Number
[X] Form 10KSB Annual Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 for the year ended OCTOBER 31, 1998
[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
PART I---REGISTRANT INFORMATION
SILVER ASSETS, INC.
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(Exact name of small business issuer as specified in its charter)
BELCOR, INC.
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(Former name)
California 95-2369956
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(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
19320 Sonoma Highway, Sonoma, CA 95476
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(Address of principal executive offices)
(707)935-3284
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(Issuer's telephone number)
Not Applicable
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(Former address and former fiscal year, if changed since last report)
PART II - RULES 12B-25 (B) AND (C)
(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-KSB will be files on or before the
fifteenth calendar day following the prescribed due date; and
(c) The accountant's statement or other exhibit required by Rule 12-25(c) has
been attached if applicable.
PART III - NARRATIVE
As a result of scheduling differences with our independent public accountants
and the fact that the chief financial officer of the Registrant resigned in
August, 1998 and no replacement was effected by December 31, 1998, the year end
closings and Form 10KSB preparation have taken a longer period of time than
anticipated. The Registrant has employed other services, but such service
providers did not have adequate familiarity with the Registrant to complete the
financial statement and Form 10KSB narrative preparation in time for a timely
filing.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification::
John Durkin (707) 935 3284
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(Name) (Area Code) (Telephone Number)
(2) Check whether the issuer (1) Has filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the Registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days.
Yes X No
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(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
SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
SILVER ASSETS, INC.
DATE: January 29, 1999 /s/ Andrew Simpson
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ANDREW K. SIMPSON
PRESIDENT AND CHIEF EXECUTIVE OFFICER