Global Med Form 12b-25--Form 10-K
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NOTIFICATION OF LATE FILING SEC FILE NUMBER
0-22083
(Check One): -----------------------------
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[X] Form 10-K [ ] Form 20-F [ ] Form 11-K [ ] Form 10-Q [ ] Form N-SAR CUSIP NUMBER
37935e-10-1
For Year Ended: December 31, 2002 -----------------------------
[ ] 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: __________________________________________
Read attached instruction sheet 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
GLOBAL MED TECHNOLOGIES, INC.
________________________________________________________________________________
Full Name of Registrant
N/A
________________________________________________________________________________
Former Name if Applicable
12600 West Colfax, Suite C-420
________________________________________________________________________________
Address of Principal Executive Office (Street and Number)
Lakewood, Colorado 80215
________________________________________________________________________________
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.)
| (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, 20-F, 11-K or Form N-SAR, or portion thereof will
| be filed on or before the 15th 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.
PART III -- NARRATIVE
State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q,
N-SAR, or the transition report or portion thereof, could not be filed within
the prescribed time period.
Registrant has encountered delays in completing its Annual Report on
Form 10-K for the year ended December 31, 2002, because the Company
has devoted its resources to renegotiating the terms of its
outstanding debt agreements with its parent company. The Company fully
expects to renegotiate its debt with its parent company.
PART IV--OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this notification
Michael I. Ruxin, M.D (303) 238-2000
________________________________________________________________________________
(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).
[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.
For the fiscal year ended December 31, 2002, Registrant incurred a net
loss of $705 thousand on revenues of $6.627 million. For the fiscal
year ended December 31, 2001, Registrant incurred a net loss of
approximately $1.69 million on revenues of approximately $6.224
million. For the fiscal year ended December 31, 2000, Registrant
incurred a net loss of approximately $4.892 million on revenues of
approximately $4.379 million. The primary reason for the increase in
revenues for the fiscal year ended December 31, 2002 was that the
Registrant received a contract settlement during the year that
resulted in the recognition of $500 thousand in revenues. During the
fiscal year ended December 31, 2002, the Registrant had income from
operations of $16 thousand. During the fiscal years ended December 31,
2001 and 2000, the Registrant had a loss from operations of $920
thousand and $2.306 million, respectively. For the fiscal year ended
December 31, 2002, the Registrants operations provided $547 thousand
in cash, of which $350 thousand represented payments from the contract
termination. During the fiscal years ended December 31, 2001 and 2000,
the Registrant’s operations used $100 thousand and $570 thousand,
respectively.
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GLOBAL MED TECHNOLOGIES, INC.
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(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, 2003 By /s/ Michael I. Ruxin, M.D
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Michael I. Ruxin, M.D
Chairman and Chief Executive Office
INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly authorized representative. The name and title of the person
signing the form shall be typed or printed beneath the signature. If the
statement is signed on behalf of the registrant by an authorized representative
(other than an executive officer), evidence of the representative's authority to
sign on behalf of the registrant shall be filed with the form.
ATTENTION
Intentional misstatements or omissions of fact constitute Federal Criminal
Violations (see 18 U.S.C. 1001).