Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
August 17 2015 - 3:39PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 12b-25
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NOTIFICATION OF LATE FILING
(Check One):☐ Form 10-K ☐ Form 20-F
☐ Form 11-K ☒ Form 10-Q ☐ Form 10-D ☐ Form N-SAR
☐ Form N-CSR
For Period Ended: 06-30-2015
☐ 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: N/A
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:
N/A
PART I-- REGISTRANT INFORMATION
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Vertical Computer Systems, Inc. |
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Full Name of Registrant |
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Scientific Fuel Technologies, Inc. |
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Former Name if Applicable |
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101 West Renner Road, Suite 300 |
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Address of Principal Executive Office (Street and Number) |
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Richardson, TX 75082 |
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City, State and Zip Code |
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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)
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(a) The reasons 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 or Form N-SAR, 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, 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 the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed
within the prescribed time period.
The Registrant has experienced delays in resolving
issues material to the Registrant’s financial statements. Accordingly, the Registrant is unable to file its Form 10-Q on
or before the prescribed filing date. The Registrant expects to file the Form 10-Q within five days after the prescribed filing
date.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to
contact in regard to this notification
Richard Wade |
(972) 437-5200 |
(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 ☐ No
(3) Is it anticipated that any significant
change in results of operation for 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 ☐ No
Revenues
for the three months ended June 30, 2015 decreased by approximately $1.8 million or 61% compared to the three months ended June
30, 2014, primarily due to a decrease in license fees of SiteFlash™. Revenues for the six months ended June 2015, decreased
by approximately $2.8 million or 56% over prior year primarily due to licensing of our SiteFlash™ technology. Total operating
expenses for the three months ended June 30, 2015 decreased by approximately $1.4 million or 69% compared to the three months ended
June 30, 2014, primarily due to decreased legal fees to prosecute patent infringement on the company’s intellectual property
and the impairment of software development costs. Total operating expenses decreased approximately $2.1 million or 57% over prior
year for the six months ending June 30, 2015 primarily due to decreased legal fees to prosecute patent infringement on the company’s
intellectual property and impairment of software development costs.
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Vertical Computer Systems, Inc. |
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(Name of Registrant as Specified in Charter) |
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Has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
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| August 17, 2015 | | |
By: /s/ Richard Wade |
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Richard Wade, |
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President and Chief Executive Officer (Principal Executive Officer and Principal Accounting Officer) |