Washington, D.C.

                                   FORM 12b-25

           NOTIFICATION OF LATE FILING     SEC File Number:  033-81400703

                      CUSIP Number: 8668R105

[     ]  Form  10-K     [    ]  Form  20-F     [    ]  Form  11-K
[  X  ]  Form  10-Q     [    ]  Form  N-SAR     [    ]  Form  N-CSR

                        For Period Ended:   June 30, 2005

     [    ]   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 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
Item(s)  to  which  the  notification  relates:  Not  Applicable



Full  name  of  Registrant:

      Sun  Network  Group,  Inc.

Former  Name  if  Applicable

     Not  applicable

Address  of  Principal  Executive  Office  (Street  and  Number):

     20533  Biscayne  Boulevard,  Suite  1122

City,  State  and  Zip  Code:

     Miami,  Florida  33180


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, 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, Form 11-K, Form N-SAR or Form N-CSR, 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

N/A   (a)   The  accountant's  statement  or  other  exhibit  required  by  Rule
12b-25(c)  has  been  attached  if  applicable.


State  below  in reasonable detail the reasons 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  period.

The  Registrant has recently received a comment letter from the staff accountant
of  the  Investment Management Division of the SEC to which it has responded and
also  submitted  to  the  SEC  a  request for clarification of its obligation to
report  certain  aspects  of the acquisition of a portfolio company.  The format
and  appearance of certain financial information required in the periodic report
will  depend on a response from the SEC to the questions posed by the Registrant
to  the  SEC.

Additionally,  certain  information  required  as  a  result of the Registrant's
election  to  be  treated  as  a  Business  Development Corporation could not be
obtained  from  prior  management  in  a  timely fashion also necessitating this
delay.  It  is  anticipated  that such information will be available at the time
that  the  SEC  responds  to  the  questions  posed.



(1)     Name  and  telephone  number  of  person  to  contact  in regard to this

                         James A. Reskin     502     561-0500
                         ---------------     ---     --------
                    (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?

     [    ]  Yes        [  X  ]  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.

                             Sun Network Group, 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:  August  15,  2005     By:  /s/  Craig  Waltzer
       -----------------          -------------------
                                  Craig  Waltzer
                                  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).