UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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SEC File Number
33-22169-C
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CUSIP Number
862600 10 3
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(Check One): [_] Form 10-KSB [_] Form 11-K [_] Form 20-F
[X] Form 10-QSB [_] Form N-SAR
For Period Ended: December 31, 2001
[_] 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:_________________________
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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:
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PART I - REGISTRANT INFORMATION
STRANDTEK INTERNATIONAL, INC.
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Full Name of Registrant
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Former Name if Applicable
455 NORTH INDIAN ROCKS ROAD
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Address of Principal Executive Office (Street and Number)
BELLEAIR BLUFFS, FLORIDA 33770
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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;
(b) The subject annual report, semi-annual report, transition report
on Form 10-KSB, Form 20-F, Form 11-K, or Form N-SAR, or portion
[X] 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-QSB, 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 Forms 10-KSB, 20-F, 11-K, 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.)
StrandTek International, Inc. (the "Company") was unable to file its Form 10-QSB
for the quarter ended December 31, 2001 without unreasonable effort or expense
within the prescribed time period for the reason described in this paragraph.
The Company and its advisors fought a two-day, near losing battle in the
February 13 - 14, 2002 time frame with a computer virus that began its relevant
journey while counsel worked on documents for the Company, and spread from there
to the Company and to its accountants. The time consumed in cleaning the virus
not only from the draft Form 10-QSB and related working papers, but also from
other infected documents at three sites and the relevant computers, delayed the
completion and successful transmission to the financial printer of the Form 10-
QSB.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
WILLIAM G. BUCKLES, JR. 727 585-6333
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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 the answer is no,
identify report(s). [_] Yes [X] No
Forms 10-QSB for fiscal year 2001
(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.
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Net sales increased $1,297,469 (121%) for the first 2002 quarter, from
$1,070,029 for the same quarter last fiscal year to $2,367,498, but gross loss
decreased less than $4,000. Cost of sales ($3,264,956 in the first 2002 quarter
versus $1,971,178 in the 2001 first quarter) as a percentage of net sales
improved to 138% from 184% for the first quarter of 2001. The cost of sales in
the first 2002 quarter was higher than expected due to certain inefficiencies in
introducing a new product, slower than anticipated phase-ins of in-house
processes and use of feed stock scrap in production, and higher than anticipated
costs for sales samples. Net loss decreased by $344,925 between comparative
quarters, to approximately $3,807,000 in the 2002 quarter. Also for the fist
quarter of fiscal 2002, general and administrative expenses increased 43%,
selling expenses declined 40%, and research and development, depreciation and
amortization, and interest expenses increase 317%, 101% and 40%, respectively,
over the first quarter of 2001.
STRANDTEK INTERNATIONAL, 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
thereunto duly authorized.
Date FEBRUARY 15, 2002 By: /s/ WILLIAM G. BUCKLES, JR.
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William G. Buckles, Jr., Vice President and
Chief Financial Officer
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).
GENERAL INSTRUCTIONS
1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the
General Rules and Regulations under the Securities Exchange Act of 1934.
2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and Exchange
Commission, Washington, DC 20549, in accordance with Rule 0-3 of the General
Rules and Regulations under the Act. The information contained in or filed with
the form will be made a matter of public record in the Commission files.
3. A manually signed copy of the form and amendments thereto shall be
filed with each national securities exchange on which any class of securities of
the registrant is registered.
4. Amendments to the notifications must also be filed on Form 12b-25 but
need not restate information that has been correctly furnished. The form shall
be clearly identified as an amendment notification.
5. Electronic Filers. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to difficulties
in electronic filing should comply with either Rule 201 or Rule 202 of
Regulation S-T ((S)232.201 or (S)232.202 of this chapter) or apply for an
adjustment in filing date pursuant to Rule 13(b) of Regulation S-T ((S)232.13(b)
of this chapter).
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