Notification That Annual Report Will Be Submitted Late (nt 10-k)
March 31 2016 - 2:24PM
Edgar (US Regulatory)
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UNITED
STATES
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OMB
APPROVAL
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SECURITIES
AND EXCHANGE COMMISSION
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OMB
Number: 3235-0058
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Washington,
D.C. 20549
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Expires: August 31,
2015
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Estimated
average burden hours per response........2.50
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FORM
12b-25
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SEC
FILE NUMBER
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000-26020
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NOTIFICATION
OF LATE FILING
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CUSIP
NUMBER
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923449201
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(Check
one):
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þ
Form 10-K ☐ Form 20-F ☐ Form 11-K ☐ Form 10-Q ☐
Form 10-D ☐ Form N-SAR ☐ Form N-CSR
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For
Period Ended: December 31, 2015
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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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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
VeriTeQ
Corporation
Full
Name of Registrant
Former
Name if Applicable
6560
W. Rogers Circle, Suite 19
Address
of Principal Executive Office
(Street and Number)
Boca
Raton, FL 33487
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)
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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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(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 or portion thereof,
could not be filed within the prescribed time period.
VeriTeQ
Corporation is unable to file its Annual Report on Form 10-K for the year ended December 31, 2015 within the prescribed time as
the Company requires additional time to determine the proper accounting for certain financing transactions that occurred during
the year, and to complete the audit of its financial statements. These transactions are highly complex and require extensive review
and analysis.
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Persons who are
to respond to the collection of information contained in this form are not required to respond unless the form displays a
currently valid OMB control number.
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(Attach
extra Sheets if Needed)
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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Kenneth Shapiro
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954
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574-9720
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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 answer is no, identify report(s).
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Yes
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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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Yes
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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.
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The
Company expects to report revenue of approximately $287,000 for 2015. Net loss is expected to be approximately $16.3 million for
the year ended December 31, 2015, compared to $3.9 million for the year ended December 31, 2014. The net loss in 2015 is expected
to include stock-based compensation expense of approximately $6.9 million and net losses on the change in fair values of certain
derivative and other fair valued instruments in the amount of approximately $6.8 million and non-cash interest expense in the
amount of $1.7 million. The net loss in 2014 included non-cash interest expense of approximately $2.4 million and net gains on
the change in fair values of derivative and other fair valued instruments in the amount of $6.3 million.
VeriTeQ
Corporation
(Name
of Registrant as Specified in Charter)
has
caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date
March 31, 2016
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By
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/s/
Marc Gelberg
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Marc
Gelberg
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Interim
Chief Financial Officer
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