Unassociated Document
SEC
FILE NUMBER
001-09727
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
12b-25
NOTIFICATION
OF LATE FILING
For
Period Ended: September 30,
2010
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For
the Transition Period Ended: _________________________
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Nothing
in this form shall be construed to imply that the Commission has verified
any information contained herein.
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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
PATIENT SAFETY TECHNOLOGIES, INC.
Full Name
of Registrant
Former Name if Applicable
TWO VENTURE PLAZA, SUITE 350
Address
of Principal Executive Office (Street and
Number)
IRVINE, CA
92618
City,
State and Zip Code
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
box if appropriate.)
x
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(a) |
The
reason described in reasonable detail in Part III of this form could not
be eliminated without unreasonable effort or expense;
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(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 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
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(c) |
The
accountant’s statement or other exhibit required by Rule 12b-25(c) has
been attached if
applicable.
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PART
III
NARRATIVE
State below in reasonable detail why
Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or
portion thereof, could not be filed within the prescribed time
period.
Our
quarterly report on Form 10-Q for the quarterly period ended September 30, 2010
cannot be filed within the prescribed time period without unreasonable expense
or delay as the transition to our new Chief Financial Officer hired shortly
before the due date for the third quarter Form 10-Q required additional time to
ensure technical issues were properly accounted for and to ensure adequate
disclosure of certain information required to be included in the Form
10-Q.
PART
IV
OTHER
INFORMATION
(1) Name
and telephone number of person to contact in regard to this
notification
DAVID C. DREYER,
CPA |
949 |
387-2277 |
(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).
Yes x No
o
(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 o
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.
The
following estimates are provided with respect to the third quarter
2010.
Revenue:
$4.1 million, which included $2.5 million of sales shipped to Cardinal Health,
our distributor, as a part of the First Forward Order.
Gross
profit: $2.2 million.
Operating
expenses: $1.2 million.
As a
result, the Company estimates that it will report operating income of $925
thousand.
The
Company is not able to able to provide definitive estimates of other operational
measures until the Company completes its preparation and review of the financial
statements and related disclosures that need to be included in the Form
10−Q.
Patient
Safety Technologies, 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 11/15/2010 |
By /s/ David C.
Dreyer
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David C. Dreyer,
Chief Financial Office |