UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 12b-25

NOTIFICATION OF LATE FILING

 

SEC File Number 0-30810

CUSIP Number 285617106

 

(Check one) : x   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, 2012
   
 

¨    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: ____________________________

 

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

 

Electronic Control Security Inc.

Full Name of Registrant

 

790 Bloomfield Avenue

Address of Principal Executive Office

 

Clifton, NJ 07012

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 reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
     
x (b) The subject annual report, semi-annual report, transition report on Forms 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, 10-QSB, 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 reason why Forms 10-K, 20-F, 11-K, 10-QSB, 10-D, N-SAR, N-CSR or the transition report portion thereof could not be filed within the prescribed time period.

 

The registrant’s Annual Report on Form 10-K for the fiscal year ended June 30, 2012 could not be filed by the prescribed due date of September 28, 2012 because registrant had not yet finalized its treatment and disclosure of certain material events that occurred during the fourth quarter and fiscal year 2012. As a result, the audit of registrant’s 2012 financial statements is ongoing. Accordingly, the registrant is unable to file such report within the prescribed time period without unreasonable effort or expense. The registrant anticipates that the subject annual report will be filed on or before October 15, 2012.

 

PART IV - OTHER INFORMATION

 

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

 

Arthur Barchenko, Chief Executive Officer (973) 574-8555

 

(2) Have all other periodic reports required under Section 13 or 15(d) or 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  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 reason why a reasonable estimate of the results cannot be made.

 

    For the year ended June 30, 2011, the registrant had revenues of $3,958,941 and net income of $381,566. For the year ended June 30, 2012, the registrant currently estimates that it had revenues of approximately $2.2 million and a net loss of approximately $1.65 million. Results for the 2012 fiscal year remain subject to further adjustment.

 

    The decrease in revenues during the 2012 period as compared to the 2011 period is primarily attributable to the to the delays encountered by the Government related contract awards, Requests for Proposals and task order awards. The Government has delayed the review and approval process which has had a further negative impact on sales for this fiscal year.  The net loss for the 2012 period is primarily attributable to the reduced revenues.

 

    This Notification of Late Filing on Form 12b-25 contains forward-looking statements, including forward-looking statements relating to the Registrant's financial results for the year ended June 30, 2012. These statements are based on management's current expectations and involve a number of risks and uncertainties, including risks described in our filings with the Securities and Exchange Commission. The Registrant's actual results may differ materially from the Registrant's anticipated or expected results and the results in the forward-looking statements.

 

 
 

 

Electronic Control Security 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: October 1, 2012 By: /s/ Arthur Barchenko  
  Arthur Barchenko  
  Chief Executive Officer  

  

 

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