U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
FORM 12b-25
Commission File Number 000-30874
NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K [ ] Form 11-K [ ] Form 20-F [X] Form 10-Q [ ] Form N-SAR
For Period Ended: March 31, 2007
[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended: _______________________________________
Read Attached Instruction Sheet 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
Full Name of Registrant CANEUM, INC.
Former Name if Applicable
Address of principal executive office (Street and number)
170 NEWPORT CENTER DRIVE
SUITE 210
City, State and Zip Code NEWPORT BEACH, CA 92660
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) [X]
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 report on
Form 10-K, 20 F, 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 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 the form 10-K, 11-K,
20-F, 10-Q or N-SAR, or the transition report or portion thereof could not be
filed within the prescribed time period. (Attach extra sheets of needed.)
See Attachment
Part IV-Other Information
1. Name and telephone number of person to contact in regard to this
notification
GARY ALLHUSEN 949 273-4000
(Name) (Area Code) (Telephone No.)
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 the answer is no, identify
report(s).
[ ] Yes [X] No
Form 10-KSB for December 31, 2006
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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
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 can not be made.
CANEUM, INC.
(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 15, 2007 By /s/ Gary Allhusen
Gary Allhusen
Executive Vice-President
3
Attachment
Explanation of Change in Results from Prior Quarter
Caneum acquired TierOne Consulting, Inc. at the end of first quarter, 2006,
which tripled the size of the company and also acquired Continuum Systems,
Pvt. Ltd. in December, 2006. Quarter ending March 31, 2007, is the first
quarter in which the combined results of the consolidated companies are being
reported. Accounting for many details of the combined entity and the fact
that we had another change in accounting personnel, delayed our ability to
file in a timely manner.
Below is a summary of the anticipated changes in the results of operations
from quarter ended March 31, 2006 to quarter ended March 31, 2007.
The quarter ended
March 31
---------------------------
2006 2007
----------- -----------
(estimated)
Revenue $ 854,719 $ 2,785,000
Cost of Revenue $ 640,309 $ 2,290,000
---------- ----------
Gross Profit $ 214,410 $ 495,000
Operating/Other Expenses $ 567,191 $ 884,000
Minority Interest $ 60,000
---------- ----------
Net (Loss) $ (352,781) $ (449,000)
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