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UNITED
STATES
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OMB
APPROVAL
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SECURITIES
AND EXCHANGE COMMISSION
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OMB
Number: 3235-0058
Expires: May
31, 2012
Estimated
average burden
hours
per response.....2.50
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Washington,
D.C. 20549
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FORM
12b-25
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SEC
FILE NUMBER
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000-13649
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CUSIP
NUMBER
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NOTIFICATION
OF LATE FILING
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084597202
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(Check
one):
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o Form
10-K o Form
20-F o
Form 11-K x Form
10-Q o
Form 10-D
o Form
N-SAR o
Form N-CSR
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For
Period Ended: March 31,
2010 .
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o Transition
Report on Form 10-K
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o Transition
Report on Form 20-F
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o Transition
Report on Form 11-K
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o Transition
Report on Form 10-Q
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o Transition
Report on Form N-SAR
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For
the Transition Period Ended:
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Read
Instruction (on back page) Before preparing form. Please print or
type.
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Nothing
in this form shall be construed to imply that the Commission has verified
any information contained herein.
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If
the notification relates to a portion of the filing checked above,
identify the Item(s) to which the notification relates:
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PART
I - REGISTRANT INFORMATION
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BERKSHIRE
BANCORP INC.
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Full
Name of Registrant
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N/A
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Former
Name if Applicable
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160
Broadway
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Address
of Principal Executive Office (Street and
Number)
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New
York, New York 10038
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City,
State and Zip Code
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PART
II - RULES 12b-25(b) AND (c)
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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).
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(a)
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The
reasons described in reasonable detail in Part III of this form could not
be eliminated without unreasonable effort or expense;
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x
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(b)
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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 subject distribution report on Form 10-D or portion thereof will
be filed on or before the fifth calendar day following the prescribed due
date; and
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(c)
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The
accountant’s statement or other exhibit required by Rule 12b-25(c) has
been attached if applicable.
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State
below in reasonable detail the reasons why Form 10-K, 20-F, 11-K, 10-Q,
10-D, N-SAR, N-CSR, or the transition report or portion thereof could not
be filed within the prescribed time period.
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The
Registrant has not completed the process of evaluating certain auction
rate securities in its investment portfolio at March 31, 2010,
which has prevented it from completing its financial
statements.
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PART
IV - OTHER INFORMATION
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(1)
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Name
and telephone number of person to contact in regard to this
notification:
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Steven
Rosenberg
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212
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791-5362
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(Name)
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(Area
Code)
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(Telephone
Number)
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(2)
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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 the
answer is no, identify report(s).
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o Yes x
No
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The
Company has not yet filed on Form 10-K for the year ended December 31,
2009.
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(3)
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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?
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o Yes x
No
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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.
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BERKSHIRE BANCORP INC.
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(Name
of Registrant as Specified in Charter)
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has
caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.
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Date:
May 17,
2010
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By:
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/s/_STEVEN ROSENBERG
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Steven
Rosenberg, President
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ATTENTION
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Intentional
misstatements or omissions of fact constitute Federal Criminal Violations
(See 18 U.S.C. 1001).
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