U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
(Check One):
[ ] Form 10-K and Form 10-KSB [ ] Form 20-F
[X] Form 10-Q and Form 10QSB [ ] Form N-SAR [ ] Form 11-K
For Period Ended: March 31, 2005
[ ] 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:
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: iWorld Projects & Systems, Inc.
Former Name if Applicable:
Address of Principal Executive Office (Street and
Number):
City, State and Zip Code:
3834 Sunflower Court, Merritt Island, FL 32953
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]
[x] (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, 11-K or Form N-SAR, or portion thereof will
be filed on 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 accountants statement or other exhibit required by Rule 12b-36
(c) has been attached if applicable.
Part III Narrative
The Company needs additional time to file its report because its independent
auditors were unable to complete the required review and EDGAR conversion of
the report in time to meet the filing deadline, despite prior assurance so that
the filing date would be met. The report was completed by the Company and
reviewed and approved by its independent Audit Committee and transmitted to the
auditors in time for a timely filing, but the auditors were unable to complete
their review in time to meet the filing deadline. The Company needs the
additional time so that the auditors can complete their review
Part IV - Other Information
(1) Name and telephone number of person to contact in regard to this
notification:
Robert Hipple (407) 810-6125
(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 report (s) been filed? If the 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.
iWorld Projects & Systems, 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 16, 2005
By: /s/ Robert Hipple
-------------------------
Robert Hipple, CEO
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (See 18 U.S.C. 1001).