U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number 0-23712
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K and Form 10-KSB [_] Form 11-K [_] Form N-SAR
[_] Form 10-Q and Form 10_QSB [_] Form 20-F
For Period Ended: December 31, 2001
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: Asconi Corporation
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Former Name if Applicable: Grand Slam Treasures, Inc.
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Address of Principal Executive Office (Street and Number): 160 International
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Pkwy, Suite 280
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City, State and Zip Code: Heathrow, Florida 32746
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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)
[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-K, Form 20-F, 11-K or 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(c) has been attached if applicable.
PART III
NARRATIVE
State below in reasonable detail the reasons why the Form 10-K and Form
10-KSB, 11-K, 20-F, Form 10-Q and Form 10QSB, N-SAR or the transition report or
portion thereof could not be filed within the prescribed time period.
The Registrant's annual report on Form 10-KSB for the fiscal year ended
December 31, 2001 cannot be filed within the prescribed time period because
Registrant is experiencing delays in the aggregation and collection of certain
information required to be included in the Form 10-KSB due in part to the merger
with Asconi SRL and the corporate restructuring which followed. The Form 10-KSB
will be filed as soon as reasonably practical and in no event later than the
fifteenth calendar day following the prescribed due date.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification:
Jeffery Bahnseo (407) 420-1000
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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 during the preceding 12 months or for such
shorter period that the registrant was required to file such report(s) 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 Registrant will report results of operations from its foreign
winemaking operations of approximately $1.5 million for the fiscal year
ended December 31, 2001 as compared to approximately $.7 million for the
fiscal year ended December 31, 2000. Also, the Registrant incurred a one
time charge of approximately $4.5 million for consulting arrangements and
merger costs in the fiscal year ended December 31, 2001, as previously
disclosed in the Registrant's Form 10-QSB's.
ASCONI CORPORATION
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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 27, 2002 By: /s/ Constantin Jitaru
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Name: Constantin Jitaru
Title: President/Chief Executive Officer
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