Notification That Form 20-f Will Be Submitted Late (nt 20-f)
April 28 2017 - 2:02PM
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
x
Form 20-F
¨
Form 11-K
¨
Form 10-Q
¨
Form 10-D
¨
Form N-SAR
¨
Form N-CSR
For Period Ended: December 31, 2016
¨
|
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
SGOCO Group, Ltd.
Full Name of Registrant
N/A
Former Name if Applicable
Room 1301, 13/F, Golden Centre,188
Des Voeux Road Central
Address of Principal Executive Office
(Street
and Number)
Hong Kong
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 reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense
|
|
(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 1 0-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
|
|
(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 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.
SGOCO Group, Ltd. (the "Company") could not complete
the filing of its Annual Report on Form 20-F for the period ended December 31, 2016, due to a delay in obtaining and compiling
information required to be included in the Company's Form 20-F, which delay could not be eliminated by the Company without unreasonable
effort and expense. The Company anticipates filing its Form 20-F on or before the fifteenth calendar day following the prescribed
due date.
PART IV — OTHER INFORMATION
(1)
|
Name and telephone number of person to contact in regard to this notification
|
|
Tony Zhong
|
86
|
13911053168
|
|
(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 answer is no, identify report(s).
x
Yes
¨
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?
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.
|
Anticipated Changes
We anticipate that we will report the following changes in the
results of operations from the 2016 fiscal year:
|
|
Revenue
We
anticipate that we will report that our sales were $5.1 million for the year ended December
31, 2016, which increased by $3.1 million, or 163.9% from $1.9 million in the year ended
December 31, 2015. The increase in revenue was primarily due to our expanded operations.
|
|
|
Cost of goods sold
We anticipate that
we will report that for the year ended December 31, 2016, cost of goods sold increased by $3.0 million, or 166.5%, to $4.8 million
from $1.8 million for the year ended December 31, 2015. The increase was in line with the revenue growth.
|
|
|
Gross profit
We anticipate that we will
report that gross profit for the fiscal year ended December 31, 2016 was $0.2 million, an increase of $0.1 million, or 112.6%
from $0.1 million for the prior fiscal year.
|
|
|
General and administrative expenses
We anticipate
that we will report that during the year ended December 31, 2016, general and administrative expenses amounted to approximately
$4.1 million for the year ended December 31, 2016, $2.6 million or 175.8% higher than $1.5 million for the previous fiscal year.
General and administrative expenses include office staff salary and benefits, legal, auditors’ and consultants’ fees,
office expenses, travel expenses, entertainment, research and development and similar costs. The increase of G&A expenses
was mainly due to amortization of intangible assets on the Company’s newly acquired subsidiary – Boca International
Limited.
|
SGOCO Group, Ltd.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed
on its behalf by the undersigned hereunto duly authorized.
Date: 4/28/2017
|
By:
|
/s/ Shi-Bin Xie
|
|
|
Shi-Bin Xie
|
|
Title:
|
Chief Executive Officer
|
SGOCO (NASDAQ:SGOC)
Historical Stock Chart
From Apr 2024 to May 2024
SGOCO (NASDAQ:SGOC)
Historical Stock Chart
From May 2023 to May 2024