SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
April 1, 2005
STORAGE COMPUTER CORPORATION
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(Exact Name of Registrant as specified in its charter)
DELAWARE 1-13616 02-045093
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
11 Riverside Street, Nashua, NH 03062-1373
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(Address of Principal Executive Offices) (Zip Code)
(603) 880-3005
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Registrant's telephone number, including area code:
Not Applicable
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(Registrant's Name or Former Address, if Change Since Last Report)
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Section 2 Financial Information
Item 2.02. Results of Operations and Financial Condition.
On April 1, 2005 the Company issued a press release announcing that it is
postponing reporting its audited financial results and delayed filing its
Form 10K for the quarter and year ended December 31, 2004. The delay arises
from the Company's inability to secure new financing and the resulting lack
of financial resources to complete the 2004 audit.
The Company previously received a "going concern opinion" from its auditors
due to recurring losses and negative cash flows from operations which
raises substantial doubt about the Company's ability to continue as a going
concern.
The Company is currently pursuing an opportunity that would provide new
financing. However, there can be no assurance that the Company will be able
to obtain new financing and, if new financing is obtained it could result
in significant dilution to existing shareholders. As previously reported,
if the Company is not successful in obtaining new financing its ability to
continue as an independent company is in serious doubt.
For the reasons described above the Company is unable to determine at this
time a date certain by which it expects to file its Form 10K and report
audited financial results for the quarter and year ended December 31,2004.
Exhibit
Number Description
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99.1 Press Release dated April 1, 2005 titled " Storage Computer Postpones
Reporting of Financial Results and Filing of Form 10K for the Quarter
and Year Ended December 31, 2004."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: April 1, 2005 STORAGE COMPUTER CORPORATION
By: /s/ Michael J. O'Donnell
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Name: Michael J. O'Donnell
Title: Chief Financial Officer