(Check
One):
|
x
Form 10-K
|
o
Form 20-F
|
o
Form 11-K
|
o
Form 10-QSB
|
|
|
o
Form N-SAR
|
|
o
Form N-CSR
|
o
|
Transition
Report on Form 10-K
|
||
o
|
Transition
Report on Form 20-F
|
||
o
|
Transition
Report on Form 11-K
|
||
o
|
Transition
Report on Form 10-Q
|
||
o
|
Transition
Report on Form N-SAR
|
(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 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 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.
|
(1)
|
Name
and telephone number of person to contact in regard to this
notification
|
||
Jody
Frank
|
(212)
|
924-3442
|
|
(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
the
answer is no, identify report(s). Yes x No
o
|
||
(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
o
|
||
|
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.
|
||
|
It
is expected that the Company net losses for the year ended October
31,
2007 will amount to approximately $15.8 million compared to $12,096,014
for the year ended October 31, 2006. This may be attributed primarily
to
an increase in non-cash charges related to a financing transaction
in
April 2007 and an increase in selling and administrative expenses
due to
the roll out of the UIS system.
|
|
|
|
Date: January 30, 2008 | By: | /s/ Jody Frank |
Jody
Frank
Chief
Financial Officer
|
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