United States
Securities and Exchange Commission
Form 12b-25
SEC File No. 000-26362
CUSIP 000760Q201
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K and Form 10-KSB; ___ Form 20-F;
___ Form 11-K; ___ Form 10-Q and Form 10-QSB; ___ Form N-SAR
For Period Ended: September 30, 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;
(b) The subject annual report, semi-annual report, transition
X 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-KSB 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
(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.
Advanced Nutraceuticals, Inc. expects to report on the subject report net income
of approximately $2.3 million ($0.46 per share) for its fiscal year ended
September 30, 2004, as compared to a net loss of $3.8 ($.77 per share) for the
year ended September 30, 2003. Income from continuing operations is expected to
report net income of $3.5 million after a $762,000 deferred income tax benefit
for the 2004 year as compared to net income from continuing operations of $1.9
million for the 2003 year. The 2004 results are expected to include the
presentation of the operations of the Company's ANI Pharmaceutical, Inc. segment
as a discontinued operation. The discontinued operations are expected to report
a net loss of $1.2 million ($.24 per share), after a $663,000 deferred income
tax benefit for the 2004, year, as compared to a net loss of $5.8 million ($1.16
per share) for the 2003 year.
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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: December 29, 2004 By: /s/ Jeffrey G. McGonegal
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Jeffrey G. McGonegal, Senior Vice President
- Finance and Chief Financial Officer