-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Es+3beMhdIAK3BHuCkFXcXlYyKSAxQQWqHslGKK9MuYwXQfpqEWitLMW1M6GP8a+
 bV0HOiJI/aoiMC2Sw0sUTA==

<SEC-DOCUMENT>0001169232-05-002775.txt : 20050517
<SEC-HEADER>0001169232-05-002775.hdr.sgml : 20050517
<ACCEPTANCE-DATETIME>20050517113941
ACCESSION NUMBER:		0001169232-05-002775
CONFORMED SUBMISSION TYPE:	NT 10-Q
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050331
FILED AS OF DATE:		20050517
DATE AS OF CHANGE:		20050517
EFFECTIVENESS DATE:		20050517

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CTI INDUSTRIES CORP
		CENTRAL INDEX KEY:			0001042187
		STANDARD INDUSTRIAL CLASSIFICATION:	FABRICATED RUBBER PRODUCTS, NEC [3060]
		IRS NUMBER:				362848943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NT 10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-23115
		FILM NUMBER:		05837644

	BUSINESS ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010

	MAIL ADDRESS:	
		STREET 1:		22160 N PEPPER RD
		CITY:			BARRINGTON
		STATE:			IL
		ZIP:			60010
</SEC-HEADER>
<DOCUMENT>
<TYPE>NT 10-Q
<SEQUENCE>1
<FILENAME>d63919_nt10-q.htm
<DESCRIPTION>NOTIFICATION OF LATE FILING
<TEXT>
<HTML>
<HEAD>
<TITLE> </TITLE>
</HEAD>
<BODY bgcolor="#ffffff">
<div style='width:600;'>

<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font SIZE=2>UNITED STATES</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Washington, D.C. 20549</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font size=2>FORM 12b-25</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font SIZE=2>NOTIFICATION OF LATE FILING</font></p>
  <p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>(Check
    One): </font><img src="ballot.jpg" width="16" height="15"><font size=2>Form
    10-K </font><img src="ballot.jpg" width="16" height="15"><font size=2> Form
    20-F <img src="ballot.jpg" width="16" height="15"> </font><font size=2>
    Form 1l-K </font><img src="ballotx.jpg" width="14" height="11"><font size=2>
    Form 10-Q </font><img src="ballot.jpg" width="16" height="15"><font size=2>
    Form N-SAR</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>For Period Ended: March 31, 2005</font></p>


  <table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
    <tr>
      <td width="44" valign=top ><img src="ballot.jpg" width="16" height="15"><font size=2>
        </font></td>
      <td width="396" valign=top ><font size=2>Transition Report on Form 10-K</font></td>
      <td width="14" valign=bottom >&nbsp;</td>
      <td width="533" valign=top ><font size=2>SEC FILE NUMBER</font></td>
    </tr>
    <tr>
      <td width="44" valign=top ><img src="ballot.jpg" width="16" height="15"><font size=2>
        </font></td>
      <td width="396" valign=top ><font size=2>Transition Report on Form 20-F</font></td>
      <td width="14" valign=bottom >&nbsp;</td>
      <td width="533" valign=top ><font size=2>&nbsp;&nbsp;&nbsp;000-23115</font></td>
    </tr>
    <tr>
      <td width="44" valign=top ><img src="ballot.jpg" width="16" height="15"><font size=2>
        </font></td>
      <td width="396" valign=top ><font size=2>Transition Report on Form 11-K</font></td>
      <td width="14" valign=bottom >&nbsp;</td>
      <td width="533" valign=bottom >&nbsp;</td>
    </tr>
    <tr>
      <td width="44" valign=top ><img src="ballot.jpg" width="16" height="15"><font size=2>
        </font></td>
      <td width="396" valign=top ><font size=2>Transition Report on Form 10-Q</font></td>
      <td width="14" valign=bottom >&nbsp;</td>
      <td width="533" valign=top ><font size=2>CUSIP NUMBER</font></td>
    </tr>
    <tr>
      <td width="44" valign=top ><img src="ballot.jpg" width="16" height="15"><font size=2>
        </font></td>
      <td width="396" valign=top ><font size=2>Transition Report on Form N-SAR</font></td>
      <td width="14" valign=bottom >&nbsp;</td>
      <td width="533" valign=top ><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;125961300</font></td>
    </tr>
    <tr>
      <td valign=bottom colspan="2" >
        <p style='margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font size=2>For
          the Transition Period Ended:</font></p>
      </td>
      <td width="14" valign=bottom >
        <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p>
      </td>
      <td width="533" valign=bottom >
        <p style='margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p>
      </td>
    </tr>
  </table>


<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>Read Instruction (on back page) Before Preparing Form. Please Print or Type.</font></p>
  <p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;&nbsp;Nothing
    in this form shall be construed to imply that the Commission has</font></p>
  <p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;text-indent:0.72in'><font size=2>
    verified any information contained herein.</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates:</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font SIZE=2>PART I - REGISTRANT INFORMATION</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font SIZE=2>CTI INDUSTRIES CORPORATION</font></p>
  <p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Full Name of Registrant</font></p>
<p style='margin-top:12pt;margin-bottom:0pt;'><HR noshade align="center" Width="150" >


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Former Name if Applicable</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font size=2> 22160 North Pepper Road</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Address of Principal Executive Office (Street and Number)</font></p>
<p style=' margin-bottom:0pt; margin-top:20pt;text-align:center;'><font size=2>Barrington, IL 60010</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>City, State and Zip Code</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>
  <p style='margin-bottom:0pt;text-align:center'><font size="2">1</font></p>
<br><HR noshade align="center" width="100%" size="5">
<p style="page-break-after:always"></p><PAGE>

<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>PART II - RULES 12b-25(b) AND (c)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>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)</font></p>



<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '> <tr>
        <td width="104" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="34" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>(a)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;</font></p> </td> </tr></table>






<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '> <tr>
        <td width="104" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="34" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>(b)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, I I-K, Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day</font></p> </td> </tr></table>






  <table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
    <tr>
      <td width="69" valign=top style='padding:6.0pt 0in 0in 0in;'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p>
      </td>
      <td width="35" valign=top style='padding:6.0pt 0in 0in 0in;'>
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font face=Wingdings><img src="ballotx.jpg" width="14" height="11"></font></p>
      </td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="34">
        <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'>&nbsp;</p>
      </td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;'><font size=2>following
        the prescribed due date; or the subject quarterly report of 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</font></td>
    </tr>
  </table>






<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '> <tr>
        <td width="104" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:6pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="34" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>(c)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>The accountant&#146;s statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.</font></p> </td> </tr></table>



<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font SIZE=2>PART III - NARRATIVE</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>State below in reasonable detail the reasons why the Form 10-K, 11-K, 10-Q, N-SAR, or the transition report or portion thereof, could not be filed within the prescribed time period. (Attach Extra Sheets if Needed)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>In order for the Company to complete the preparation and review of financial and narrative information for its fiscal quarter ended March 31, 2005, the Company requires additional time to file its Form 10-Q for such fiscal quarter.</font></p>
  <p style=' margin-bottom:8pt; margin-top:8pt;text-align:left;'><font SIZE=2>PART
    IV - OTHER INFORMATION</font></p>



<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '> <tr>
        <td width="35" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>(1)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>Name and telephone number of person to contact in regard to this notification</font></p> </td> </tr></table>



  <table width="100%" cellspacing=0 cellpadding=0>
    <tr>
      <td width="50">&nbsp;</td>
      <td align=left valign=top width="280">&nbsp;</td>
      <td align=left valign=top width="280">&nbsp;</td>
      <td align=center valign=top width="280">&nbsp;</td>
      <td align=center valign=top width="280">&nbsp;</td>
      <td align=center valign=top width="280">&nbsp;</td>
      <td width="50">&nbsp;</td>
    </tr>
    <tr>
      <td width="50">&nbsp;</td>
      <td align=left valign=bottom width="280"><font SIZE=2>SCOTT P. SLYKAS</font><br>
      </td>
      <td align=left valign=bottom width="280">&nbsp;</td>
      <td align=left valign=bottom width="280"><font size=2>&nbsp;&nbsp;312</font><br>
      </td>
      <td align=left valign=bottom width="280">&nbsp;</td>
      <td align=left valign=bottom width="280"><font size=2>&nbsp;&nbsp;284-1520</font><br>
      </td>
      <td width="50">&nbsp;</td>
    </tr>
    <tr>
      <td width="50">&nbsp;</td>
      <td align=left valign=bottom width="280">
        <hr noshade width="100%"  color="Gray" size="1">
      </td>
      <td align=left valign=bottom width="280">&nbsp;</td>
      <td align=left valign=bottom width="280">
        <hr noshade width="100%"  color="Gray" size="1">
      </td>
      <td align=left valign=bottom width="280">&nbsp;</td>
      <td align=left valign=bottom width="280">
        <hr noshade width="100%"  color="Gray" size="1">
      </td>
      <td width="50">&nbsp;</td>
    </tr>
    <tr>
      <td width="50">&nbsp;</td>
      <td align=left valign=bottom width="280"><font size=2>(Name)&nbsp;</font></td>
      <td align=left valign=bottom width="280">&nbsp;</td>
      <td align=left valign=bottom width="280"><font size=2>(Area Code)</font></td>
      <td align=left valign=bottom width="280">&nbsp;</td>
      <td align=left valign=bottom width="280"><font size=2>(Telephone Number)</font></td>
      <td width="50">&nbsp;</td>
    </tr>
  </table>
  <p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>
  <p style='margin-bottom:0pt;text-align:center'><font size="2">2</font></p>
<br><HR noshade align="center" width="100%" size="5">
<p style="page-break-after:always"></p><PAGE>




<table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '> <tr>
        <td width="35" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>(2)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=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 reports) been filed? If answer is no, identify report(s).</font></p> </td> </tr></table>



  <table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
    <tr>
      <td width="100" valign=top style='padding:6.0pt 0in 0in 0in;'>&nbsp;</td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="25"><font face=Wingdings><img src="ballotx.jpg" width="14" height="11"></font><font size=2>
        </font></td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="50"><font size=2>Yes</font></td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="25"><font size=2><img src="ballot.jpg" width="16" height="15">
        </font></td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="818"><font size=2>No</font></td>
    </tr>
  </table>
  <table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '> <tr>
        <td width="35" valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>(3)</font></p> </td>
        <td valign=top style='padding:6.0pt 0in 0in 0in;'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=2>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?</font></p> </td> </tr></table>



  <table width="100%" border="0" cellspacing=0 cellpadding=0 style='border-collapse:collapse; '>
    <tr>
      <td width="100" valign=top style='padding:6.0pt 0in 0in 0in;'>&nbsp;</td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="25"><font face=Wingdings><img src="ballotx.jpg" width="14" height="11"></font><font size=2>
        </font></td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="50"><font size=2>Yes</font></td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="25"><font size=2><img src="ballot.jpg" width="16" height="15">
        </font></td>
      <td valign=top style='padding:6.0pt 0in 0in 0in;' width="818"><font size=2>No</font></td>
    </tr>
  </table>
  <p style=' margin-bottom:0pt; margin-top:8pt; margin-left:0.36in;text-align:left;'><font size=2>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.</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font SIZE=2>CTI INDUSTRIES CORPORATION</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Name of Registrant as Specified in Charter)</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<div align="Center">

<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'> <tr>
        <td width="306" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td> </tr> <tr>
        <td width="49%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font size=2>Date: May 17, 2005</font></p> </td>
        <td width="7%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>By:&nbsp;</font></p> </td>
        <td width="40%" valign=bottom >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><br> <font size=2>/s/ Howard W. Schwan</font></p> </td> </tr> <tr>
        <td width="49%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt;'><HR noshade width="100%"  color="Gray" size="1"> </td> </tr> <tr>
        <td width="49%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="7%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="4%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=1>&nbsp;</font></p> </td>
        <td width="40%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font size=2>Howard W. Schwan, President</font></p> </td> </tr></table>
</div>


<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>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&#146;s authority to sign on behalf of the registrant shall be filed with the form.</font></p>
<p style=' margin-bottom:0pt; margin-top:16pt;text-align:center;'><font SIZE=2>ATTENTION</font></p>
<p style=' margin-bottom:0pt; margin-top:8pt;text-align:left;'><font size=2>Intentional misstatements or omissions of fact constitute Federal Criminal violations (See 18 U.S.C. 1001).</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>
  <p style='margin-bottom:0pt;text-align:center'><font size="2">3</font></p>
<br><HR noshade align="center" width="100%" size="5">
<p style="page-break-after:always"></p><PAGE>

<p style=' margin-bottom:0pt; margin-top:8pt; text-indent:0.36in;text-align:left;'><font size=2>The Company expects to report net sales of approximately $9,103,000 for the fiscal quarter ended March 31, 2005, as compared to net sales of $10,874,000 for the quarter ended March 31, 2004. The Company expects to report income</font><b><font size=2> </font></b><font size=2>before taxes and minority interest of approximately $80,000 for the fiscal quarter ended March 31, 2005, as compared to net income before taxes and minority interest of $607,000 for the quarter ended March 31, 2004. Net income after provision for taxes and minority interest for the quarter ended March 31, 2005 is expected to be approximately $84,000, as compared to net income of $372,000 for the quarter ended March 31, 2004.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>
  <p style='margin-bottom:0pt;text-align:center'><font size="2">4</font></p>
<br><HR noshade align="center" width="100%" size="5">


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


</div>
</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>ballot.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ballot.jpg
M_]C_X``02D9)1@`!`0$!+`$L``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"``/`!`#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#U*XE\2ZEX
MFU2STS6;*PMK,0X6;3S.S%UR3D2+CIZ&DMY?$NF^)M+L]3UFRO[:\$V5AT\P
M,I1<@Y,C9_(4V:;7-'\5:M<VOAJ[U*VO%@*307-N@!52"")'4_I1#-KFL>*M
:)N;KPU=Z;:V:SEY9[FW<$L@``$;L?TH`_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>ballotx.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ballotx.jpg
M_]C_X``02D9)1@`!`0$!+`$L``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"``+``X#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#J9_,2REU(
MMK.IW<NJ:C%_9]MJ]W%+(J7,BKY824(JHJ@$8`P1SG`;I?#%NEKJMJ8=0N;J
M.ZT]Y9-]]<3Q[A(H&T3.Q7&2.Q]0.@T#X*T?SII8VU6$S2R3.MOJ]W$F]V+N
H0JRA1EB3P!UJWIGAS3])NGNK8WKS,GEE[J_GN,+G)`\QVQSZ4`?_V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
