NT 10-K 1 extmaykkkkk.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON DC 20549 FORM 12b-25 NOTIFICATION OF LATE FILING Commission File Number 0-5920 (Check one) X Form 10-K and Form 10-KSB Form 11-K Form 20-F Form 10-Q and Form 10-QSB Form N-SAR For period ended 5/31/03 Transition Report on Form 10-K and Form 10-KSB Transition Report on Form 20-F Transition Report on Form 11-K Transition Report on Form 10-Q and Form 10-QSB Transition Report on Form N-SAR 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 items(s) to which the notification relates: PART I REGISTRANT INFORMATION Full name of registrant Lancer Orthodontics, Inc. Former name if applicable Address of principal executive office (Street and number) 253 Pawnee Street City, state and zip code San Marcos CA 92069 PART II RULE 12b-25(b) AND (c) If the subject report could not be filed without reasonable 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 X could not be eliminated without unreasonable effort or expense; (b) The subject annual report, semi-annual report, transition report on X Form 10-K, 10-KSB, 20-F, 11-K or Form N-SAR, or portion thereof will be filed on or before the 15th calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, 10-QSB, 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 Form 10-K, 10-KSB, 11-K, 20-F, 10-Q, 10-QSB, N-SAR or the transition report portion thereof could not be filed within the prescribed time period. (Attach extra sheets if needed.) The Company is currently gathering and analyzing certain accounting information to complete its financial statements and its annual report on Form 10-KSB. PART IV OTHER INFORMATION (1) Name and telephone number of person to contact in regard to this notification. Valoree Weatherly 760/744-5585 (Name) (Area Code) (Telephone Number) (2) Have all other periodic reports required under Section 13 or 15(d) or 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? 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. Registrant expects to report in its Form 10-KSB a net income applicable to common stock of approximately $71,175 for the year ended May 31, 2003, as compared to the net income of $37,784 for the year ended May 31, 2002. Registrant expects to report an approximate $134,433 decrease in revenues to approximately $5,887,898 for the year ended May 31, 2003 from $6,022,331 for the year ended May 31, 2002 due primarily to a decrease in international sales. In addition, Registrant experienced a decrease in cost of sales of approximately $15,049 to approximately $4,143,999 for the year ended May 31, 2003 from $4,159,048 for the year ended May 31, 2002 due primarily to expansion costs. The decrease in operating income was offset by an increase in other income (expense) of approximately $102,477 to approximately $59,182 for the year ended May 31, 2003 from $(43,295) for the year ended May 31, 2002 due primarily to the settlement of a prior year insurance claim for inventory. Lancer Orthodontics, 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 September 2, 2003 By /s/ Zack Irani, CEO