SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
NOTIFICATION OF LATE FILING
|(CHECK ONE):||[X] Form 10-K||[ ] Form 20-F||[ ] Form 11-K||[ ] Form 10-Q||[ ] Form N-SAR|
|For Period Ended:||December 31, 2017|
|[ ]||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 Transaction Period Ended:|
READ INSTRUCTION (ON BACK PAGE) 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
|Full Name of Registrant|
|ClearOne Communications, Inc.|
|Former Name if Applicable|
|5225 Wiley Post Way, Suite 500|
|Address of Principal Executive Office (Street and Number)|
|Salt Lake City, Utah 84116|
|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 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 or 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 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.
ClearOne, Inc. (the “Company”) was unable to file its Form 10-K for the period ended December 31, 2017. The Company could not complete the filing of Form 10-K without unreasonable effort and expense within the prescribed time due to additional time and resources needed to address the disclosure requirements relating to recent changes in tax law, goodwill and intangibles impairment previously reported in the last Form 10-Q and updating the capitalization of legal costs related to patent litigation.
PART IV - OTHER INFORMATION
|(1)||Name and telephone number of person to contact in regard to this notification|
|(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.
The Company reported revenue of $48.6 million and net income of $2.4 million for the year ended December 31, 2016. The Company expects to report less revenues for the year ended December 31, 2017 as compared to 2016 and also expects to report a net loss for the year ended December 31, 2017.
|(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 19, 2018||By:||/s/ Zeynep Hakimoglu|
|Zeynep Hakimoglu, Chief Executive Officer|
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.
INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT
CONSTITUTE FEDERAL CRIMINAL VIOLATIONS
(SEE 18 U.S.C. 1001)