United States
Securities and Exchange Commission
Form 12b-25
SEC File No. 000-26362
NOTIFICATION OF LATE FILING
(Check One): Form 10-K and Form 10-KSB; Form 20-F;
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Form 11-K; X Form 10-Q and Form 10-QSB; Form N-SAR
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For Period Ended: March 31, 2004
_ 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: ___________________________
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
Advanced Nutraceuticals, Inc.
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Full Name of Registrant
N/A
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Former Name if Applicable
106 South University Blvd., Unit 14
Denver, CO 80209
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Address of Principal Executive Office (Street and Number)
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, Form 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 or transition report on Form 10-Q,
or portion thereof, will be filed on or before the 5th
calendar day after 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.
Because of delays in processing certain accounting documents, the Registrant's
Report on Form 10-QSB could not be timely filed without unreasonable effort or
expense.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Jeffrey G. McGonegal (303) 722-4008
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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 reports(s) been filed? If answer is no,
identity report(s)
X Yes No
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(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
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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.
**Advanced Nutraceuticals, Inc. expects to report on the subject report income
from continuing operations $2,720,000 ($0.54 per share); a net loss from
discontinued operations of $(1,533,000) ($(.31) per share) and net income of
$1,186,000 ($.24 per share) for the six months ended March 31, 2004, as compared
to income from continuing operations $855,000 ($0.17 per share); a net loss from
discontinued operations of $(808,000) ($(.16) per share) and net income of
$47,000 ($.01 per share) for the six months ended March 31, 2003. The 2004
results from continuing operations are expected to contain a $1,303,000 deferred
income tax benefit relating to a recognized benefit from the Company's net
operating loss carry forward for income tax purposes.
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Advanced Nutraceuticals, 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: May 17, 2004 By: /s/ Jeffrey G. McGonegal
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Jeffrey G. McGonegal,
Senior Vice President - Finance and
Chief Financial Officer