SGOC SGOCO Group Ltd

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SEC FILE NUMBER 1-35016

 

CUSIP NUMBER 40658107

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 12b-25

 

NOTIFICATION OF LATE FILING

(Check One)		oForm 10-K S Form 20-F ¨ Form 11-K ¨ Form 10-Q ¨ Form 10-D ¨ Form N-SAR ¨ Form N-CSR
		For Period Ended: December 31, 2014
		¨ Transition Report on Form 10-K
		¨ Transition Report on Form 20-F
		¨ Transition Report on Form 11-K
		¨ Transition Report on Form 10-Q
		¨ Transition Report on Form N-SAR
		For the Transition Period Ended:

 

Read Instruction (on back page) 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:

PART I — REGISTRANT INFORMATION

SGOCO Group, Ltd.

(Full Name of Registrant)

(Former Name if Applicable)

Suite 1503, Sino Plaza, 255-257 Gloucester Road

(Address of Principal Executive Office (Street and Number)

Causeway Bay, Hong Kong

(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		(a)		The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
		(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 1 0-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
		(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 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.

 

SGOCO Group, Ltd. (the “Company”) requires additional time to finalize its financial statements and the Form 20-F for the year ended December 31, 2014. Consequently, the Company’s Form 20-F cannot be filed on a timely basis. The Company plans to file its 2014 Form 20-F within fifteen calendar days from the original due date, as permitted under Rule 12b-25.

 

PART IV — OTHER INFORMATION

 

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

 

Johnson Lau		852		2501-0128
(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 ¨

 

(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 reasons why a reasonable estimate of the results cannot be made.

 

The Company’s unaudited revenues decreased more than 70% in fiscal 2014 when compared with fiscal 2013 due to weak industrial growth. Its main products are flat panel monitors. As a result of the slow demand of personal computers in the China market in general and the increased demand for mobile devices, the Company’s sales in the display market dropped significantly. This change of users’ behavior has led to the contraction of the traditional display market and increased price competition from the Company’s peers which resulted in significant decreases in the fiscal 2014 revenues and gross margins.

 

 

SGOCO Group, Ltd.

(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 1, 2015		By		/s/ Shi-Bin Xie
						Shi-Bin Xie
						Chief Executive Officer and President

 

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.

 

		ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal Violations. (See 18 U.S.C. 1001)