SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING

                                                  Commission File Number 0-28498

(Check one)

|X| Form 10-K and Form 10-KSB   |_| Form 11-K

|_| Form 20-F  |_| Form 10-Q and Form 10-QSB  |_| Form N-SAR

For period ended: December 31, 2002

|_| Transition Report on Form 10-K and Form 10-KSB

|_| Transition Report on Form 20-F

|_| Transition Report on Form 11-K

|_| Transition Report on Form 10-Q and Form 10-QSB

|_| 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
_____________________________________________________________________

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                                     PART I
                             REGISTRANT INFORMATION

Full name of registrant: Paradigm Medical Industries, Inc.

Former name if applicable: _____________________________________________________

Address of principal executive office (Street and number):

                           2355 South 1070 West
                           Salt Lake City, Utah 84119

                                     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  132b-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 Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion
                  thereof, will be filed on or before the fifteenth calendar day
                  following  the prescribed  due date;  or the subject quarterly
                  report of  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
                  12(b)-25(c) has been attached if applicable.

                                    PART III
                                    NARRATIVE

     State below in reasonable  detail the reasons why Forms 10-K,  11-K,  10-Q,
N-SAR or the transition report or portion thereof, could not be filed within the
prescribed time period. (Attach extra sheets if needed.)

     The Form 10-KSB cannot be completed within the requested time period due to
the  complexities  involved in completing the required  financial  statements of
registrant,   including   final  analysis  in  determining   the  value  of  the
Registrant's goodwill, inventory and other investments.


                                     PART IV
                                OTHER INFORMATION


(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
     notification

                  Randall A. Mackey           (801)               575-5000
                  -----(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).

         |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?

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.

         |X|Yes    | | No

The Company expects to record impairment charges related to goodwill, inventory
and other investments in the amount of approximately $3.7 million.

                        Paradigm Medical Industries, 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:   March 31, 2003                     By: /s/ Jeffrey F. Poore
                                              ----------------------------------
                                           Jeffrey F. Poore
                                           President and Chief Executive Officer