UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 12b-25
NOTIFICATION OF LATE FILING
[ ]Form 10-K [ ]Form 20-F [ ]Form 11-K [X] Form 10-Q [ ]Form N-SAR
Commission file number 000-333215
EMPS Corporation
Full Name of Registrant
N/A
Former Name of Registrant
2319 Foothill Boulevard, Suite 250
Address of Principle Executive Offices (street and number)
Salt Lake City, Utah 84109
City, State and Zip Code
Part II - Rules 12b-25 (b) and (c)
If the subject could be filed without unreasonable effort or expense
and the Registrant seeks relief pursuant to Rule 12b-25 (b), the following
should be completed. (Check if appropriate).
X (a) The reasons described in reasonable detail in Part III of
this form could not be eliminated without unreasonable effort
of expense;
X (b) The subject annual report, semi-annual report, transition
report on Form 10-K, Form 20-F, Form 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 statements or other exhibit required by
Rule 12b-25 (c) has been attached if applicable.
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Part III - Narrative
State below in reasonable detail the reasons why Form 10-K, 10-KSB,
20-F, 11-K, 10-Q, 10-QSB, N-SAR, or the transition report or portion
thereof, could not be filed within the prescribed time period.
The quarterly report of the registrant on Form 10-QSB could not be
filed because management requires additional time to compile and verify
the data required to be included in the report. The report will be
filed within five days of the date the original report was due.
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification
Marat Cherdabayev (801) 746-3700
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Name Area Code Telephone Number
(2) Have all other reports required under Section 13 or 15 (b) of the
Securities and Exchange Act of 1934 or Section 30 or the Investments
Act of 1940 during the preceding 12 months (or for such shorter) period
that the Registrant was required to file such reports 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 anticipates the following significant changes in results
of operations during the three months and six months ended June 30,
2003 compared to the corresponding three month and six month periods
ended June 30, 2002: (dollars in thousands, except per share data)
Three months ended June 30, Six months ended June 30,
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2003 2002 2003 2002
---- ---- ---- ----
Revenue $3,316 $1,133 $4,000 $1,714
Income (loss) from operations 1,312 188 900 (17)
Net (loss) income 789 (104) 207 (274)
Income (loss) per common share $0.04 ($0.00) $0.01 ($0.01)
The increases in revenue, income from operations, net income and net
income per common share during the three months and six months ended
June 30, 2003 compared to the corresponding prior year periods is
primarily the result of increases in the registrant's vessel revenues.
The increase in vessel revenues corresponds with the increase in the
size of the registrant's vessel fleet.
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EMPS 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: August 15, 2003 By: /s/ Marat Cherdabayev
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Marat Cherdabayev, Secretary
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