UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 12b-25
NOTIFICATION OF LATE FILING
[X] Form 10-K [ ] Form 20-F [ ] Form 11-K Form 10-Q [ ] Form N-SAR
Commission file number 000-333215
EMPS Corporation
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Full Name of Registrant
N/A
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Former Name of Registrant
2319 Foothill Boulevard, Suite 250
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Address of Principle Executive Offices (street and number)
Salt Lake City, Utah 84109
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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.
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 annual report of the registrant on Form 10-KSB 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 fifteen calendar 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 that its gross revenue increased
90%, total operating expenses increased 105%, and income from
operations will have increased approximately 50%, for the year
ended December 31, 2003, compared to the year ended December
31, 2002. The registrant also expects a 170% increase in its
income tax provision for the year ending December 31, 2003
compared to the same period of 2002, resulting in 21% decrease
in net income for the year ended December 31, 2003 compared to
December 31, 2002. The Company anticipates its resulting net
income per common share will be unchanged in comparison of the
years ended December 31, 2003 to December 31, 2002.
The increases in revenue, expenses and income from operations
during the year ended December 31, 2003 compared to the
corresponding prior year period is primarily the result of
increases in the size of the registrant's vessel fleet with
the corresponding increases in revenues and expenses.
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: March 30, 2004 By: /s/ Marat Cherdabayev
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Marat Cherdabayev, Secretary