U.S. SECURITIES AND EXCHANGE
                        COMMISSION WASHINGTON, D.C. 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING

                                                         SEC File No.: 000-27845


                                                         CUSIP No.:    89352U100
(Check one):

[ ]Form 1O-K    [ ]Form 20-F    [ ]Form 11-K     [X]Form 10-QSB    [ ]Form N-SAR

For Period Ended: JUNE 30, 2005
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[ ] 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: _____

  Read Instruction (on back page) Before Preparing Form. Please Print or Type.
    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:

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PART I - REGISTRANT INFORMATION

         TRANSAX INTERNATIONAL LIMITED
         -----------------------------
         Full Name of Registrant


         -------------------------
         Former Name if Applicable

         5201 BLUE LAGOON DRIVE, 8TH FLOOR
         ---------------------------------------------------------
         Address of Principal Executive Office (Street and Number)

         MIAMI, FL, 33126
         -------------------------
         City, State and Zip Code

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)



         (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, 11-K or Form N-SAR, 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
         (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 the Form 1O-K, 20-F, 11-K,
10-Q, N-SAR, or the transition report or portion thereof could not be filed
within the prescribed time period.

         REGISTRANT NEEDS ADDITIONAL TIME TO EXTRACT FINANCIAL INFORMATION FROM
         ITS OVERSEAS OPERATIONS.

PART IV - OTHER INFORMATION

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

         ADAM WASSERMAN                 (305) 629-3090
         ------------------------------------------------------
         (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 the 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 sto 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.

                          TRANSAX INTERNATIONAL LIMITED
                  --------------------------------------------
                  (Name of Registrant as specified in charter)

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

                                        TRANSAX INTERNATIONAL LIMITED

Date: August 15, 2005                   By: /s/ Adam Wasserman
                                            -----------------------
                                            Adam Wasserman
                                            Principal Financial and
                                            Accounting Officer