UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File Number 333-54822
CUSIP Number 82773R 20 2
(Check One)
|_| Form 10-K |_| Form 10-KSB |_| Form 20-F |_| Form 11-K
|X| Form 10-Q/Form 10-QSB |_| Form N-SAR |_| Form N-CSR
For period ended March 31, 2005
|_| Transition Report on Form 10-K/Form 10-KSB
|_| Transition Report on Form 20-F
|_| Transition Report on Form 11-K
|_| Transition Report on Form 10-Q/Form 10-QSB
|_| Transition Report on Form N-SAR
For the transition period ended:_______________________________
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
Stronghold Technologies, Inc.
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Full Name of Registrant
106 Allen Road
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Address of Principal Executive Office
Basking Ridge, NJ 07920
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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;
|X| (b) The subject annual report, semi-annual report, transition report
on Forms 10-K, X 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 reason why Forms 10-K, 10-KSB, 11-K, 20-F,
10-Q, 10-QSB, N-SAR, N-CSR or the transition report portion thereof could not be
filed within the prescribed time period.
The registrant is in the process of preparing and reviewing the financial
information of the registrant. The process of compiling and disseminating the
information required to be included in the Form 10-QSB for the relevant fiscal
quarter, as well as the completion of the required review of the registrant's
financial information, could not be completed without incurring undue hardship
and expense. The registrant undertakes the responsibility to file such quarterly
report no later than five days after its prescribed due date.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification.
Robert Nawy, CFO (908) 903-1195
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(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) : Yes |X| 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 reason why a reasonable estimate
of the results cannot be made.
For the quarter ended March 31, 2004, the registrant had revenues of $643,678
and net loss of $583,728. For the quarter ended March 31, 2005, the registrant
currently estimates that it had revenues of approximately $262,000 and a net
loss of approximately $1,073,000. Results for the 2005 fiscal year remain
subject to further adjustment and actual results may differ significantly from
the foregoing estimates.
This decrease in revenue of $382,000 or 59% is primarily attributed to the
following:
o the steps we made to address our limited funding that included
reductions of our sales, marketing and client consultant staffs that
resulted in less installations
o concerns from the market regarding the viability of the company's
ability to continue as a going concern, particularly with respect to
the pending foreclosure suit with PNC Bank, which was finally paid
off and satisfied on March 31, 2005.
Stronghold Technologies, 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
hereunto duly authorized.
Date: May 16, 2005 By: /s/ Christopher Carey
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Christopher Carey
Chief Executive Officer