SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 12b-25

SEC File Number 0-20882

NOTIFICATION OF LATE FILING

(Check One):

x Form 10-K

      Form 11-K        Form 20-F        Form 10-Q       Form 10-D      0  N-SAR

                               Form N-CSR

   For Period Ended:

December 31, 2007                                                                                                                                        

Transition Report on Form 10-K	Transition Report on Form 10-Q
Transition Report on Form 20-F	Transition Report on Form N-SAR
Transition Report on Form 11-K

For the Transition Period Ended:  ______________________________________________________________________________

Read attached instruction sheet 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:

PART I

REGISTRANT INFORMATION

Full name of registrant

Standard Management Corporation                                                                                                                     

Former name if applicable

Address of principal executive office (Street and number)

________________________________________10689 North Pennsylvania Street________________________________________

City, state and zip code

 Indianapolis, Indiana 46280_________________________________________________________________

PART II

RULE 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, 20-F, 11-K Form N–SAR or Form N- CSR, or portion thereof will be filed on or before the 15^th 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

(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 Form 10-K, 11-K, 20-F, 10-Q, 10-D, N–SAR, N-CSR, or the transition report or portion thereof could not be filed within the prescribed time period. (Attach extra sheets if needed.)

The Registrant is unable to file its Annual Report on Form 10-K for the year ended December 31, 2007 (the “10-K”) within the prescribed time period without unreasonable effort or expense. The Registrant had unanticipated delays in the collection and compilation of certain information and needs additional time to file complete and accurate financial statements required to be included in the 10-K.  The Registrant intends to file the 10-K on or before the 15^th calendar day following the prescribed due date.

PART IV

OTHER INFORMATION

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

Ronald D. Hunter

(317)

574-6225

                       (Name)                                                     (Area Code)                                  (Telephone Number)

   (2) Have all other period 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    0 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?

                  x Yes      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

On February 6, 2008, the Registrant transferred substantially all of its operating assets to one of its creditors in exchange for extinguishment of debt. Accordingly, the Registrant expects that the earnings statements included in the subject report will be restated to show all of the Registrant’s operations as discontinued operations.

________________________

STANDARD MANAGEMENT CORPORATION

(Name of Registrant s Specified in Charter)

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

Date: April 1, 2008

By:

__________________________________

Ronald D. Hunter

Chairman, Chief Executive Officer and

President