sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 12b-25
Commission File Number 000-17288
NOTIFICATION OF LATE FILING
(Check One): [X] Form 10-K [ ] Form 11-K [ ] Form 20-F [ ] Form 10-Q [ ] Form N-SAR
For Period Ended: September 30, 2001
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[ ] Transition Report on Form 10-K [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form 20-F [ ] Transition Report on Form N-SAR
[ ] Transition Report on Form 11-K
For the Transition Period Ended:
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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 Tidel Technologies, Inc.
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Former name if applicable
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5847 San Felipe, Suite 900
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Address of principal executive office (Street and number)
Houston, Texas 77057
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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 appropriate box.)
[X] (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, 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, 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 reasons why Form 10-K, 11-K,
20-F, 10-Q, N-SAR or the transition report portion thereof could not be filed
within the prescribed time period. (Attach extra sheets if needed.)
The Registrant was unable to file the Form 10-K for the year ended
September 30, 2001 (the "Report") without unreasonable effort or expense due to
the related delays in gathering information for inclusion in the Report
associated therewith.
Part IV. Other Information
(1) Name and telephone number of person to contact in regard
to this notification
Leonard L. Carr, Jr. (713) 783-8200
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(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 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.
The Registrant did not sell any ATM units to Credit Card
Center ("CCC"), formerly its largest customer during the three months
ended September 30, 2001. In the comparable period a year ago, CCC had purchased
$13.3 million of product. For the year ended September 30, 2001, sales to CCC
were $11.7 million compared to $44.8 million for the year ended September 30,
2000. As a result, the Registrant expects to report a loss for 2001. In
addition, the Registrant expects to provide a significant reserve for losses
related to receivables due from CCC for the year ended September 30, 2001.
Tidel 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
thereunto duly authorized.
Date December 27, 2001 By /s/ Leonard L. Carr, Jr.
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Name: Leonard L. Carr, Jr.
Title: Secretary
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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.