Notification That Quarterly Report Will Be Submitted Late (nt 10-q)
August 15 2018 - 1:27PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
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:
June 30
, 201
8
☐ 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: ___________________
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
Petrogress, Inc.
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Full Name of Registrant
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|
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Former Name if Applicable
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757 Third Avenue, Suite 2110,
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Address of Principal Executive Office
(Street and Number)
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New York, New York
10017
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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)
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The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
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☒
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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 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
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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 why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR or the transition report portion thereof, could not be filed within the prescribed time period.
Petrogress,
Inc.
(the “Company”)
could not file its Quarterly Report on Form 10-Q for the quarterly period ende
d June 30
, 2018 (the “Report”) within the prescribed time period without unreasonable effort or expense due to unanticipated delays in assembling all information required to prepare, and be included, in the Report, including, without limitation,
the Company’s
consolidated
financial statements for the three months ended
June 30
, 2018
.
PART IV-- OTHER INFORMATION
(1)
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Name and telephone number of person to contact in regard to this notification
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Christos Traios
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(
212
)
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376-5228
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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 report(s) been filed? If the answer is no, identify report(s). 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? Yes
☒
No ☐
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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.
At
June 30
, 2018, the Company expects to report an accumulated
profit
of approximately $
1,518,004
and for the three months ended
June 30
, 2018, net income
of
approximately
$
397,454
as compared to $
1,178,599
for the prior year.
For the
three months ended
June 30
, 2018
, the Company expects to report
total
revenue of
approximately $
2,261,890
as compared to $
4,443,072
for the
same three month period in 2017
,
representing a decrease
of $2,181,182
. The Company also expects to report
approximately $1,282,524
in
costs of goods sold
during the three months ended
June
30, 2018 as compared to $1,814,271
for the same period in 2017
,
representing a decrease
of $531,747
.
For the three months ended
June 30
, 2018
, the Company expects to report operating expenses totaling
approximately
$
582,136
c
ompared to $1,516,859
for the same period
in 2017, representing a decrease
of $934,723
.
This
Notification of Late Filing
contains forward-looking statements. All statements that address operating performance, events or developments that the Company expects or anticipates will occur in the future are forward-looking statements. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to the Company’s management. The Company’s management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from the
Company
’s historical experience and its present expectations or projections. These risks and uncertainties include, but are not limited to, those described from time to time in other reports which we file with the U.S. Securities and Exchange Commission, and other risks and uncertainties including, without limitation,
disclosures to be made in
the Company’s
Quarterly
Report and the possibility that
actual net loss, revenue, and/or expenses for the
three months ended June 30
, 2018
are different from the estimates provided herein.
Petrogress,
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:
August 14
, 2018
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By:
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/s/
Christos Traios
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Christos Traios
,
president and
Chief Executive Officer
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