UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC FILE NUMBER
000-50140
CUSIP NUMBER
00087F 10 2
(Check One): [ ] Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q
[ ] Form 10-D [ ] Form N-SAR [ ] Form N-CSR
For Period Ended: November 30, 2009
[ ] 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 Instruction (on back page) 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
SheerVision, Inc.
Full Name of Registrant
Former Name if Applicable
4030 Palos Verdes Drive N., Suite 104
Address of Principal Executive Office (Street and Number)
Rolling Hills, CA 90274
City, State and Zip Code
PART II--RULES 12B-25(b) AND (c)
If the subject report could not be filed without unreasonable effort and expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)
[x] (a) The reason 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, Form N-SAR or Form N- CSR, or portion
thereof will be filed on or before the fifteenth 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 10-D, 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
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,
10-D, N-SAR or N-CSR, or the transition report or portion thereof, could not be
filed within the prescribed period.
(Attach extra Sheets if Needed)
The financial statements necessary to file the Form 10-Q in a timely fashion are
not completed, and the Registrant cannot do so in a timely manner without
unreasonable burden and expense.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Suzanne Lewsadder (310) 265-8918
(Name) (Area Code) (Telephone Number)
(2) Have all other periodic reports 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
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.
See Attachment A.
SheerVision, 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 January 14, 2010 By /s/ Suzanne Lewsadder
-------------------------------
Name: Suzanne Lewsadder
Title: Chief Executive Officer
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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).
Attachment A
SheerVision, Inc. ("we" or "us") anticipates that it will report
significant changes in its results of operations for the three months ended
November 30, 2009 as compared to the prior fiscal year.
Based on information available to us at this time, net sales decreased
from $1,172,362 for the three months ended November 30, 2008 to $561,172 for the
three months ended November 30, 2009, gross profit decreased from $705,886 for
the three months ended November 30, 2008 to $441,233 for the three months ended
November 30, 2009, operating expenses decreased from $636,304 in the three
months ended November 30, 2008 to $471,504 in the three months ended November
30, 2009 resulting in a decrease of net profit from $65,807 for the three months
ended November 30, 2008 to a net loss of $31,961 for the three months ended
November 30, 2009.
The decrease in net sales in the three months ended November 30, 2009 was
principally due to a decrease in purchase orders from our now largest
distributor. During the first quarter of 2008, our largest distributor, who was
then a new strategic partner, was making one-time initial inventory purchases to
build up its inventory for initial purchases and for use by its salespeople. In
addition, as a result of the impact of the general economic downturn this
distributor reduced its inventory levels for items that were not selling as well
as originally projected and discounted products to drive sales in a more
price-conscious market. The decrease in gross profits was attributable mainly
due to a reduction in overall purchase orders from our largest distributor and
lower per unit sales prices partially offset by an inventory adjustment of
previously written off stock. The decrease in operating expenses was
attributable principally to the decline in legal costs associated with the legal
settlement that occurred in fiscal year 2008, a decrease in salary payments as a
result of the departure of our former President and Secretary and a reduction in
external accounting costs.
The foregoing is qualified in its entirety by reference to our unaudited
financial statements for the quarter ended November 30, 2009 to be filed in our
Quarterly Report on Form 10-Q for the quarter ended November 30, 2009.
SheerVision (CE) (USOTC:SVSO)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
SheerVision (CE) (USOTC:SVSO)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024