-------------------------
OMB APPROVAL
-------------------------
OMB Number: 3235-0058
Expires: January 31, 2005
Estimated average burden
hours per response...2.50
-------------------------
-------------------------
SEC FILE NUMBER
2-85602-D
-------------------------
-------------------------
CUSIP NUMBER
595416-10-8
-------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: June 30, 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: _____________________________
- --------------------------------------------------------------------------------
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.
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
Mid-Power Service Corporation
- --------------------------------------------------------------------------------
Full Name of Registrant
n/a
- --------------------------------------------------------------------------------
Former Name if Applicable
3800 Howard Hughes Parkway, Suite 860A
- --------------------------------------------------------------------------------
Address of Principal Executive Office (Street and Number)
Las Vegas, Nevada 89109
- --------------------------------------------------------------------------------
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 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 Forms 10-K, 20-F, 10-Q, N-SAR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.
On June 4, 2002, we dismissed Hein + Associates, LLP, as our principal
accountant to audit and report on our financial statements for the fiscal year
ended June 30, 2002. See Current Report on Form 8-K filed June 6, 2002,
reporting event of June 4, 2002. On September 26, 2002, Hein + Associates, LLP,
advised us that it would not consent to our use of its report on our
consolidated statements of operations, stockholders' equity, and cash flows for
the year ended June 30, 2001. We have engaged our current accountant to audit
and report on our consolidated statements of operations, stockholders' equity,
and cash flows for the year ended June 30, 2001.
PART IV -- OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
James R. Kruse 801 531-7090
------------------------------------ ----------- -------------------
(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 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.
We anticipate reporting as follows:
During the year ended June 30, 2002, we had revenues of approximately
$100,000 from the sale of oil from our California producing properties,
while during the preceding fiscal year, we had no revenues. We incurred
total costs and expenses of approximately $4.5 million during the year
ended June 30, 2002, for a loss from operations of approximately $4.4
million. The substantial increase in costs and expenses and resulting
loss from operations are attributable to the activation of our business
during the year ended June 30, 2002. During the preceding fiscal year,
when we were inactive, total costs and expenses of $38,000 consisted of
general and administrative expenses.
We recognized net other income of $90,000 in the year ended June 30,
2002, as compared to net other income of $1,000 in the preceding fiscal
year, from interest earned on net proceeds received from the sale of
equity securities.
- --------------------------------------------------------------------------------
Mid-Power Service Corporation
--------------------------------------------
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
Date October 1, 2002 By /s/ Kenneth M. Emter
-----------------------
Kenneth M. Emter