U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
SEC File Number 000-30415
CUSIP Number 422184 10 5
(Check One): . Form 10-K . Form 20-F . Form 11-K X . Form 10-Q . Form N-SAR
For Period Ended: March 31, 2011
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Transition Report on Form 10-K
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Transition Report on Form 20-F
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Transition Report on Form 11-K
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Transition Report on Form 10-Q
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Transition Report on Form N-SAR
For the Transition Period Ended:
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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:_________
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Part I - Registrant Information
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Full Name of Registrant:
Health Enhancement Products, Inc.
Former Name if Applicable
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Address of Principal Executive Office (Street and Number):
7740 East Evans Road, Suite A101 |
City, State and Zip Code: |
Scottsdale, AZ 85260 |
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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 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, 11-K, Form N-SAR, 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 accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable. |
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Part III - Narrative
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State below in reasonable detail the reasons why Form 10-K and Form 10-KSB, 20-F, 11-K, 10-Q and Form 10-QSB, N-SAR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach Extra Sheets if Needed)
The Company is unable to file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2011 within the prescribed time period because the Company is having difficulty obtaining certain information that is necessary to the completion of the Companys quarterly financial statements. The Company intends to file its Quarterly Report on Form 10-Q on or before the 5th calendar day following the prescribed due date.
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Part IV - Other Information
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(1)
Name and telephone number of person to contact in regard to this notification
John Gorman |
| 480 |
| 385-3800 |
(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 .
(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? N/A (there is no comparable prior period) Yes X . No .
The Company anticipates reporting a net loss for the quarter ended March 31, 2011 of approximately $500,000, compared with a net loss of approximately $5.5 million for the quarter ended March 31, 2010. The estimated $5 million decrease in net loss for the current quarter, compared to the corresponding prior quarter, is primarily attributable to an approximate $4.5 million decrease in Fair Value Adjustment of Derivative Liability (other non-cash expense) and a $500,000 decrease in professional and consulting fees. The results for the quarter ended March 31, 2011 are subject to change in connection with the ongoing review of the Companys financial statements.
Health Enhancement Products, Inc.
(Name of Registrant as Specified in Charter)
has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 16, 2011
By /s/ John Gorman
Name: John Gorman
Title: Executive Vice President
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