-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UHWk3qkEPuNkxNGwzrQmm+2DDb+zPWJphG1U+GjlNMj4fteMBtmH8Q4Y9a8LplHC oFovt6EHd+KP/7vR5H+7sA== 0000950134-98-009403.txt : 19981202 0000950134-98-009403.hdr.sgml : 19981202 ACCESSION NUMBER: 0000950134-98-009403 CONFORMED SUBMISSION TYPE: NT 10-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980831 FILED AS OF DATE: 19981201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOLDEN PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000312651 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 840645174 STATE OF INCORPORATION: CO FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NT 10-K SEC ACT: SEC FILE NUMBER: 000-09065 FILM NUMBER: 98762439 BUSINESS ADDRESS: STREET 1: 370 17TH STREET STREET 2: SUITE 5200 CITY: DENVER STATE: CO ZIP: 80202-5638 BUSINESS PHONE: 3032799375 MAIL ADDRESS: STREET 1: 370 17TH STREET STREET 2: SUITE 5200 CITY: DENVER STATE: CO ZIP: 802025638 FORMER COMPANY: FORMER CONFORMED NAME: BENEDICT NUCLEAR PHARMACEUTICALS INC DATE OF NAME CHANGE: 19920703 NT 10-K 1 NOTIFICATION OF LATE FILING FOR PERIOD END 8/31/98 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 12b-25 ------------------------------ SEC FILE NUMBER 0-9065 ------------------------------ NOTIFICATION OF LATE FILING ------------------------------ CUSIP NUMBER 38114510 1 ------------------------------ (Check One): [X] Form 10-K [_] Form 20-F [_] Form 11-K [_] Form 10-Q [_] Form N-SAR For Period Ended: August 31, 1998 [ ] 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 Golden Pharmaceuticals, Inc. - ------------------------------------------------------------------------------- Full Name of Registrant - ------------------------------------------------------------------------------- Former Name if Applicable 3000 West Warner Avenue - ------------------------------------------------------------------------------- Address of Principal Executive Office (Street and Number) Santa, Ana, California 92704 - ------------------------------------------------------------------------------- City, State and Zip Code 2 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 appropriate box) [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 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 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 Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, or the transition report or portion thereof, could not be filed within the prescribed time period. The Registrant is unable to timely complete the information required for the presentation of its Annual Report on Form 10-KSB for the period ended August 31, 1998 due to the negotiation of several transactions during the last quarter of the fiscal year. 3 PART IV - OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification Gary P. Pryor (714) 843-0294 ------------------------------ ---------------------- ---------------------- (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 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? |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. Golden Pharmaceuticals, Inc. ------------------------------------------- (Name of Registrant as Specified in Charter) has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized. Date November 30, 1998 By /s/ Gary P. Pryor ---------------------------- ---------------------------------- Gary P. Pryor, Vice President, Finance 4 PART IV - OTHER INFORMATION 3. The Registrant believes that there will be a significant change in the results of operations for the fiscal year ended August 31, 1998 from the year ended August 31, 1997, an estimate of which is set forth below. The results for the 1997 fiscal year included a $6,210,434 gain from the sale of the Registrant's radiopharmaceutical division in April 1997. Results for the 1998 fiscal year were negatively impacted by decreased sales by Pharma Labs LLC and Quality Care Pharmaceuticals, Inc. as well as a $3,509,847 goodwill impairment charge in the current period and a $693,275 unusual change impairment less associated with Pharm Labs. GOLDEN PHARMACEUTICALS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
YEAR ENDED AUGUST 31, ------------------------------ 1998 1997 ------------ ------------ NET SALES $ 6,443,863 $ 11,957,841 COST OF SALES 5,302,545 8,146,734 ------------ ------------ GROSS MARGIN 1,141,318 3,811,107 Selling, general and administrative expense 6,819,170 6,394,291 Unusual charge - impairment loss 693,275 -- Goodwill impairment change 3,509,847 -- ------------ ------------ OPERATING LOSS (9,880,974) (2,583,184) OTHER INCOME/ (EXPENSE) Interest expense (598,160) (1,456,439) Joint venture loss (125,741) (71,358) Gain in disposal of division -- 6,210,434 Gain (loss) on disposal of assets 112,074 (2,048) Other income 99,786 96,507 ------------ ------------ TOTAL OTHER INCOME (EXPENSE) (512,041) 4,777,096 ------------ ------------ INCOME (LOSS) BEFORE INCOME TAX EXPENSE (10,393,015) 2,193,912 ------------ ------------ INCOME TAX EXPENSE 7,714 642,390 ------------ ------------ INCOME (LOSS) BEFORE MINORITY INTEREST (10,400,729) 1,551,522 MINORITY INTEREST 582,969 269,404 ------------ ------------ NET INCOME (LOSS) $ (9,817,760) $ 1,820,926 ============ ============
See Notes to Consolidated Financial Statements -----END PRIVACY-ENHANCED MESSAGE-----