Notification That Annual Report Will Be Submitted Late (nt 10-k)
October 01 2013 - 6:05AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File Number 0-30810
CUSIP Number 285617106
(Check one)
:
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x
Form 10-K
o
Form 20-F
o
Form 11-K
o
Form 10-Q
o
Form 10-D
o
Form N-SAR
o
Form N-CSR
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For Period Ended:
June 30, 2013
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o
Transition Report on Form 10-K
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o
Transition Report on Form 20-F
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o
Transition Report on Form 11-K
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o
Transition Report on Form 10-Q
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o
Transition Report on Form N-SAR
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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.
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
Electronic Control Security Inc.
Full Name of Registrant
790 Bloomfield Avenue
Address of Principal Executive Office
Clifton, NJ 07012
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)
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The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
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x
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(b)
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The subject annual report, semi-annual report, transition report on Forms 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, 10-QSB, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date; and
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(c)
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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 the reason why Forms 10-K,
20-F, 11-K, 10-QSB, 10-D, N-SAR, N-CSR or the transition report portion thereof could not be filed within the prescribed time period.
The registrant’s Annual Report on Form 10-K for the fiscal
year ended June 30, 2013 could not be filed by the prescribed due date of September 30, 2013 because registrant had not yet finalized
its treatment and disclosure of certain material events that occurred during the fourth quarter and fiscal year 2013. As a result,
the audit of registrant’s 2013 financial statements is ongoing. Accordingly, the registrant is unable to file such report
within the prescribed time period without unreasonable effort or expense. The registrant anticipates that the subject annual report
will be filed on or before October 15, 2013.
PART IV - OTHER INFORMATION
(1) Name and telephone number of person to contact in regard
to this notification.
Daryl Holcomb, Chief Financial Officer (973) 574-8555
(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
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 reason why a reasonable estimate of the results cannot be made.
For the year ended
June 30, 2012, the registrant had revenues of $2,216,082 and a net loss of $1,681,279. For the year ended June 30, 2013, the registrant
currently estimates that it had revenues of approximately $980,000 and a net loss of approximately $1.25 million. Results for the
2013 fiscal year remain subject to further adjustment.
The
decrease in revenues during the 2013 period as compared to the 2012 period is primarily attributable to the decrease in deliverable
products and support services billings resulting from continuing delays in release of funding at the Department of Defense and
Department of Energy on projects where we serve as a prime contractor and as a subcontractor. The budget constraints and budget
uncertainty at the U.S. government agencies have significantly reduced the issuance of orders and delayed projects for all participants
in our industry. The net loss for the 2013 period is primarily attributable to the reduced revenues, partially offset
by reductions in costs and expenses.
This Notification
of Late Filing on Form 12b-25 contains forward-looking statements, including forward-looking statements relating to the Registrant's
financial results for the year ended June 30, 2013. These statements are based on management's current expectations and involve
a number of risks and uncertainties, including risks described in our filings with the Securities and Exchange Commission. The
Registrant's actual results may differ materially from the Registrant's anticipated or expected results and the results in the
forward-looking statements.
Electronic Control Security 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: October 1, 2013
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By:
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/s/ Daryl Holcomb
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Daryl Holcomb
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Chief Financial Officer
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