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

                                   FORM 12B-25

                          COMMISSION FILE NUMBER 0-935


                           NOTIFICATION OF LATE FILING


(CHECK ONE):   [_] FORM 10-K    [_] FORM 11-K    [_] FORM 20-F    [X] FORM 10-Q
               [_] FORM 10-D    [_] FORM N-SAR   [_] FORM N-CSR

               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:

     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

 MOLECULAR DIAGNOSTICS, INC.
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FULL NAME OF REGISTRANT



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FORMER NAME IF APPLICABLE


 414 N. ORLEANS, SUITE 502
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ADDRESS OF PRINCIPAL EXECUTIVE OFFICE (STREET AND NUMBER)

CHICAGO, IL  60610

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CITY, STATE AND ZIP CODE


                                    PART II
                             RULE 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, FORM 11-K, FORM N-SAR OR FORM
     |            N-CSR, OR PORTION THEREOF WILL BE FILED ON OR BEFORE THE 15TH
[X]  |            CALENDAR DAY FOLLOWING THE PRESCRIBED DUE DATE; OR THE SUBJECT
     |            QUARTERLY REPORT OR TRANSITION REPORT ON FORM 10-Q OR SUBJECT
     |            DISTRIBUTION REPORT ON FORM 10D, 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 WHY THE FORM 10-K, 11-K, 20-F, 10-Q, 10-D,
N-SAR N-CSR OR THE TRANSITION REPORT OR PORTION THEREOF, COULD NOT BE FILED
WITHIN THE PRESCRIBED TIME PERIOD. (ATTACH EXTRA SHEETS IF NEEDED.)

     THE COMPANY IS UNABLE TO TIMELY FILE ITS QUARTERLY REPORT ON FORM 10-QSB
FOR THE QUARTER ENDED MARCH 31, 2005 AS THE COMPANY'S AUDITORS HAVE NOT HAD TIME
TO REVIEW THE FINANCIAL STATEMENTS AND RELATED INFORMATION INCLUDED THEREIN.
HOWEVER, THE COMPANY WILL USE ITS BEST EFFORTS TO COMPLETE THE REQUIRED
QUARTERLY REPORT ON FORM 10-QSB AS QUICKLY AS POSSIBLE.


                                    PART IV
                               OTHER INFORMATION

(1)  NAME AND TELEPHONE NUMBER OF PERSON TO CONTACT IN REGARD TO THIS
     NOTIFICATION

         DENIS M. O'DONNELL, M.D.            (312)    222-9550
     ---------------------------------------------------------------------------
               (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.


                        MOLECULAR DIAGNOSTICS, INC.
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                  (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/ DENIS M. O'DONNELL, M.D.
    -------------------            ---------------------------------------------
                                       DENIS M. O'DONNELL, M.D.
                                       PRESIDENT AND CHIEF EXECUTIVE OFFICER


          INSTRUCTION: THE FORM MAY BE SIGNED BY AN EXECUTIVE OFFICER OF THE
     REGISTRANT OR 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 (OTHER THAN AN EXECUTIVE OFFICER), EVIDENCE OF
     THE REPRESENTATIVE'S AUTHORITY TO SIGN ON BEHALF OF THE REGISTRANT SHALL BE
     FILED WITH THE FORM.




                                    ATTENTION

     INTENTIONAL  MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL
VIOLATIONS (SEE 18 U.S.C. 1001).


                              GENERAL INSTRUCTIONS

     1. THIS FORM IS REQUIRED BY RULE 12B-25 OF THE GENERAL RULES AND
REGULATIONS UNDER THE SECURITIES EXCHANGE ACT OF 1934.

     2. ONE SIGNED ORIGINAL AND FOUR CONFORMED COPIES OF THIS FORM AND
AMENDMENTS THERETO MUST BE COMPLETED AND FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION, WASHINGTON, D.C. 20549, IN ACCORDANCE WITH RULE 0-3 OF THE GENERAL
RULES AND REGULATIONS UNDER THE ACT. THE INFORMATION CONTAINED IN OR FILED WITH
THE FORM WILL BE MADE A MATTER OF PUBLIC RECORD IN THE COMMISSION FILES.

     3. A MANUALLY SIGNED COPY OF THE FORM AND AMENDMENTS THERETO SHALL BE FILED
WITH EACH NATIONAL SECURITIES EXCHANGE ON WHICH ANY CLASS OF SECURITIES OF THE
REGISTRANT IS REGISTERED.

     4. AMENDMENTS TO THE NOTIFICATIONS MUST ALSO BE FILED ON FORM 12B-25 BUT
NEED NOT RESTATE INFORMATION THAT HAS BEEN CORRECTLY FURNISHED. THE FORM SHALL
BE CLEARLY IDENTIFIED AS AN AMENDED NOTIFICATION.

     5. ELECTRONIC FILERS. THIS FORM SHALL NOT BE USED BY ELECTRONIC FILERS
UNABLE TO TIMELY FILE A REPORT SOLELY DUE TO ELECTRONIC DIFFICULTIES. FILERS
UNABLE TO SUBMIT A REPORT WITHIN THE TIME PERIOD PRESCRIBED DUE TO DIFFICULTIES
IN ELECTRONIC FILING SHOULD COMPLY WITH EITHER RULE 201 OR RULE 202 OF
REGULATION S-T OR APPLY FOR AN ADJUSTMENT IN FILING DATE PURSUANT TO RULE 13(B)
OF REGULATION S-T.