Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
January 14 2022 - 5:23PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
12b-25
NOTIFICATION
OF LATE FILING
SEC
FILE NUMBER 000-53520
(Check
One):
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[ ]
Form 10-K [ ] Form 20-F [ ] Form 11-K [X] Form 10-Q
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[ ]
Form 10-D [ ] Form N-SAR [ ] Form N-CSR
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For Period Ended: November 30, 2021
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[ ]
Transition Report on Form 10-K
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[ ]
Transition Report on Form 20-F
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[ ]
Transition Report on Form 11-K
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[ ]
Transition Report on Form 10-Q
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[ ]
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
FULL
NAME OF REGISTRANT
Discovery
Energy Corp.
FORMER
NAME IF APPLICABLE
Santos
Resource Corp.
ADDRESS
OF PRINCIPAL EXECUTIVE OFFICE (STREET AND NUMBER)
One Riverway, Suite 1700
CITY,
STATE AND ZIP CODE
Houston,
Texas 77056
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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(b)
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The
subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, 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-O, or portion thereof will be filed on or before the fifth calendar day following the prescribed
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 reasons why Forms 10-K, 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.
The Registrant is unable to file its Quarterly Report on Form 10-Q
for the period ended November 30, 2021 within the prescribed time period without unreasonable effort and expense due to the unavailability
of certain information that may materially affect the disclosure to be contained in the Report.
PART
IV - OTHER INFORMATION
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(1)
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Name
and telephone number of person to contact in regard to this notification
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Sean Austin
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(713)
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825-9591
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(Name)
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(Area
Code)
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(Telephone
Number)
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(2)
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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 reports) been filed? If answer is no, identify report(s).
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[X]
Yes [ ] No
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(3)
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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?
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[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.
Discovery
Energy Corp.
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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.
Date:
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January 14, 2022
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By:
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/s/
William E. Begley, Jr.
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William
E. Begley, Jr.,
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President
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A
T T E N T I O N
Intentional
misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).
Explanation
of Expected Variance
We expect that the net loss for our fiscal quarter ended November 30, 2021
will be approximately one-third lower than it was for our fiscal quarter ended November 30, 2020, due to a significant decrease in non-cash
amortization expense of debt discount resulting from extensions of convertible debenture expiration dates.
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