For the Transition Period Ended:

 

 

If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:

Explanatory Note

 

This Amendment No. 1 amends the Registrant’s Form 12b-25 which was filed with the Securities and Exchange Commission on May 1, 2009.

 

PART I -- REGISTRANT INFORMATION

 

 

 

 

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)

PART III -- NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

On May 1, 2009, Wyndstorm Corporation, a Nevada corporation formerly known as Packetport.com, Inc. (the “Company”), filed a Form 12b-25 indicating it was not able, without unreasonable effort or expense, to file its Annual Report on Form 10-K in a timely manner, and therefore sought relief pursuant to Rule 12b-25(b). The Company has determined it will not be able to file its Annual Report on Form 10-K within the 15 calendar days following the prescribed due date for the Form 10-K, and is filing this Amendment No. 1 to Form 12b-25 in order to amend the prior notification. The Company has determined it needs additional time to resolve certain issues related to the valuation of convertible bonds and to finalize the financial statements for the fiscal year ended January 31, 2009. The Company is working as expeditiously as possible to resolve these issues and expects to file its Annual Report on Form 10-K as soon as practicable after it resolves the foregoing issues.

Forward-Looking Statements

The information provided in this notice includes forward-looking statements, including, without limitation, statements regarding the estimated timing for the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2009 and the anticipated earnings results of the Company for the fiscal year ended January 31, 2009.

Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These statements are based on beliefs and assumptions by the Company’s management, and on information currently available to management. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any of them publicly in light of new information or future events. A number of important factors could cause actual result to differ materially from those contained in any forward-looking statements.

(Attach extra Sheets if Needed)

PART IV-OTHER INFORMATION

 

 

 

 

 

 

 

 

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate or the results cannot be made.

 

On May 1, 2009, the Company filed a Form 12b-25 indicating that its anticipated results of operations for the fiscal year ended January 31, 2009 will include significant changes from the results of operations reported for the prior fiscal year ended January 31, 2008. The Company has determined that the anticipated changes in net loss and total revenue will be less than previously reported on Form 12b-25, and is filing this Amendment No. 1 to Form 12b-25 in order to amend the prior notification. The amendment to the reduction in the anticipated changes in net loss and total revenue is attributable to the fact that the figures of net loss and total revenue for the last fiscal year ended January 31, 2008 that were included on the Form 12b-25 were erroneously taken from the financial statements reported for the Company’s predecessor entity, Packetport.com, Inc., on last year’s Annual Report on Form 10-KSB, rather than the figures contained in the unaudited pro forma condensed consolidated financial statements reported for the Company on last year’s Annual Report on Form 10-KSB.

 

Any expected results noted for the fiscal year ended January 31, 2009 are presently being audited by the Company’s auditor and therefore are not final and are subject to revision prior to the filing of the Company’s Annual Report on Form 10-K for the year ended January 31, 2009.

 

Net loss for the fiscal year ended January 31, 2009 is expected to be approximately $2.2 million, compared to the net loss of $2,008,200 reported for the last fiscal year ended January 31, 2008. The increase in net loss is the result the increased operating expenses related to the Company’s product- and client-development initiatives combined with lag in revenue growth typically associated with the start-up phase from which the Company is emerging.

 

Total revenue for the fiscal year ended January 31, 2009 is expected to be approximately $297,000, compared to total revenue of $211,132 reported for the last fiscal year ended January 31, 2008. The increase in total revenue is due the development and retainment of an initial client base by the Company.

 

 

 

 

 

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

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.