UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 12b-25
                                   -----------

                           NOTIFICATION OF LATE FILING
                              SEC File No. 0-23530
                                                          CUSIP Number 89323B108
(Check One):
[ ] Form 10-KSB [ ] Form 20-F  [ ] Form 11-K   [X] Form 10-QSB  [ ] Form -SAR

                      For Period Ended: September 30, 2002
                      ------------------------------------

[ ] 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
the item(s) to which the notification relates:

PART I - REGISTRATION INFORMATION

Full Name of Registrant: PanaMed Corporation
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Former Name if Applicable:

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Address of Principal Executive Office (Street and Number):

127 West Main Street, Second Floor
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City, State and Zip Code:

Lebanon, Indiana  46052
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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;
         (b)      The subject  annual  report,  semi-annual  report,  transition
                  report on Form 10-K,  Form 20-F, 11-K or Form -SAR, or portion
                  thereof,  will be filed on or before  the  fifteenth  calendar
                  following the  prescribed  due date; or the subject  quarterly
                  report or transition report on Form 10-QSB, or portion thereof
                  will  be  filed  on the  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,
-SAR, or the transition report or portion thereof, could not be filed within the
prescribed time period.

         The registrant's  financial  statements and accompanying  data were not
available in order to timely  complete the report.  The  registrant  anticipates
that it will file the report within the prescribed extension period.



PART IV - OTHER INFORMATION

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

                  Phillip Butler           (800)                  388-0750
                  ------------------       -----                  --------
                       (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 not, identify reports(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?          Yes [ ]        No [X]

         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.



                               PANAMED CORPORATION
                  --------------------------------------------
                  (Name of Registrant as Specified in Charter)

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

Date: November 14, 2002             By  /S/ PHILLIP BUTLER
                                       -----------------------------------
                                            PHILLIP BUTLER
                                            CEO and Acting President

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.

                                    ATTENTION

Intentional misstatements or omissions of fact constitute Federal
Criminal Violations (See 18 U.S.C. 1001).


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