UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING

(Check One): Form 10-K  Form 20-F  Form 11-K  [X]Form 10-QSB
Form N-SAR

For Period Ended: July 31, 2002
                  -----------------------------------
[ ] 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:

________________________________________________________________________________

PART I -- REGISTRANT INFORMATION


INNOVATIVE TECHNOLOGY ACQUISITION CORP.
________________________________________________________________________________
Full Name of Registrant


________________________________________________________________________________
Former Name if Applicable


144 King Street East
________________________________________________________________________________
Address of Principal Executive Office (Street and Number)


Toronto, Ontario Canada M5C 1G8
________________________________________________________________________________
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 report
          on Form 10-K, Form 20-F,11-K or Form N-SAR, or portion  thereof,  will
[X]       be filed  on or  before  the  fifteenth  calendar  day  following  the
          prescribed  due date;  or the subject  quarterly  report of transition
          report on Form 10-Q, or portion thereof will be filed on or before the
          fifth

          (c) The  accountant's  statement  or other  exhibit  required  by Rule
          12b-25(c) has been attached if applicable.

PART III -- NARRATIVE

The Company's report on form 10-QSB is being reviewed by the Company's auditors.

PART IV-- OTHER INFORMATION

(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
notification


   Randy Lebow                 416              594-4441
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     (Name)                (Area Code)     (Telephone Number)

(2) Have all other periodic  reports 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  preceeding 12 months or for such shorter period that the
registrant  was  required to file such  report(s)  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?
[ ]Yes  [X]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.

- --------------------------------------------------------------------------------



                     INNOVATIVE TECHNOLOGY ACQUISITON CORP.
                  (Name of Registrant as Specified in Charter)

has  caused  this  notification  to be signed on its  behalf by the  undersigned
hereunto duly authorized.

Date: September 16, 2002                              By: /s/ Randy Lebow


INSTRUCTION: The form may be signed by an executive officer of the registrant of
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  If the
statement is signed on behalf of the registrant by an authorized  representative
(orther than an executive officer),  evidence of the representative's  authority
to sign on behalf of the registrant shall be filed with the form.

                                    ATTENTION
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International  misstatements  or omissions of fact constitute  Federal  Criminal
Violations (See 18 U.S.C. 1001).
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