UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
Commission File Number: 000-26607
NOTIFICATION OF LATE FILING
|_| Form 10-K |_| Form 11-K |_| Form 20-F |X| Form 10-Q
|_| Form N-SAR |_| Form N-CSR
For Period Ended: March 31, 2005
|_| Transition Report on Form 10-K
|_| Transition Report on Form 10-Q
|_| Transition Report on Form 20-F
|_| 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:
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PART I
REGISTRANT INFORMATION
Full name of registrant Satellite Enterprise Corp.
Former name if applicable
Address of principal executive office Bank of America Building, 980 Post Road East
City, state and zip code Westport, Connecticut 06880
PART II
RULE 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;
(b) The subject annual report, semi-annual report, transition
report on Form 10-K, 20-F, 11-K or Form 10-Q, or portion
thereof will be filed on or before the 15th calendar day
|X| 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 Form 10-K, 11-K, 20-F,
10-Q, N-SAR or the transition report portion thereof could not be filed within
the prescribed time period.
The compilation, dissemination and review of the information required
to be presented in the Form 10-KSB for the relevant fiscal year has imposed time
constraints that have rendered timely filing of the Form 10-KSB impracticable
without undue hardship and expense to the registrant. The registrant undertakes
the responsibility to file such annual report no later than fifteen days after
its original date.
PART IV
OTHER INFORMATION
(1) Name and telephone number of person to contact in regard to this
notification
Roy Piceni (203) 672-5912
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(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 quarter ended March 31, 2004, the registrant had revenues of $189,778
and net loss of $(655,549). For the quarter ended March 31, 2005, the registrant
currently estimates that it had revenues of approximately $571,350 and a net
loss of approximately $(715,000). Results for the quarter ended March 31, 2005
remain subject to further adjustment and actual results may differ significantly
from the foregoing estimates. The main reasons for this increase can be
attributed to addition of eight additional contracts requiring the payments of
monthly distribution fees and the acquisition of SoliDAM BV.
Satellite Enterprise Corp.
Name of Registrant as Specified in Charter.
Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: May 16, 2005 /s/Roy Piceni
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By: Roy Piceni
Chief Executive Officer