SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12B-25

                          COMMISSION FILE NUMBER 0-935


                           NOTIFICATION OF LATE FILING


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

               FOR PERIOD ENDED: DECEMBER 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 OR FORM N-SAR, OR PORTION THEREOF
[X]         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, 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, 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 UNABLE TO TIMELY FILE ITS ANNUAL REPORT ON FORM 10-KSB FOR
THE FISCAL YEAR ENDED DECEMBER 31, 2005 BECAUSE THE AUDIT OF THE COMPANY'S
ANNUAL FINANCIAL STATEMENTS WILL NOT BE COMPLETE IN TIME FOR MANAGEMENT TO FULLY
PREPARE AND FINALIZE THE FORM 10-KSB BY THE PRESCRIBED FILING DATE. HOWEVER, THE
COMPANY WILL USE ITS BEST EFFORTS TO COMPLETE THE REQUIRED ANNUAL REPORT ON FORM
10-KSB AS QUICKLY AS POSSIBLE.


                                     PART IV
                                OTHER INFORMATION

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

            DAVID WEISSBERG, M.D.                 (312) 222-9580
     ---------------------------------------------------------------------------
                  (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?
                                                                 [X] YES  [ ] NO

      THE COMPANY EXPECTS TO REPORT A NET LOSS OF APPROXIMATELY $2.2 MILLION FOR
THE FISCAL YEAR ENDED DECEMBER 31, 2005 AS COMPARED TO A NET LOSS OF $13.6
MILLION FOR FISCAL YEAR 2004, PRIMARILY RESULTING FROM A DECREASE IN 2005
FUNDING OVER 2004 AND A ONE-TIME WRITE-OFF OF APPROXIMATELY $6.9 MILLION IN
CONNECTION WITH LEGAL SETTLEMENTS ENTERED INTO BY THE COMPANY IN THE FOURTH
QUARTER 2004. THIS CHARGE CONSISTED PRIMARILY OF A NON-CASH WRITE-OFF OF
INTANGIBLE ASSETS.



                   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: MARCH 31, 2006                 BY: /S/ DAVID WEISSBERG, M.D.
    -------------------            ---------------------------------------------
                                         DAVID WEISSBERG, M.D.
                                         CHAIRMAN AND CHIEF EXECUTIVE OFFICER