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Post by Franko10 ™ on Mar 29, 2005 16:07:17 GMT -5
Item 3.02 Unregistered Sales of Equity Securities Effective March 17, 2005, The registrant issued 50,000 shares of restricted common stock to Marti A. Hansen, CFO and 50,000 shares of restricted common stock to William G. Roan, VP of Compliance as an employee sign-on bonuses. The issuances were exempt from the registration requirements of the Securities Act of 1933 pursuant to section 4 (2) thereof. |
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Post by Franko10 ™ on Mar 30, 2005 14:36:58 GMT -5
xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3365182Item 4.02 Non Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review On March 29, 2005, the registrant concluded that its previously issued financial statements,(i)as of and for the nine months ended September 30, 2004, as filed in the registrant's Quarterly Report on Form 10-QSB on November 16, 2004,(ii)as of and for six months ended June 30, 2004, as filed in the registrants Quarterly Report on Form 10-QSB on August 23, 2004 and (iii) as of and for the three months ended March 31, 2004 as filed in the registrants Quarterly Report on Form 10-QSB on May 21, 2004, should no longer be relied upon because of an error in such financial statements. The error is in the methodology used to value the mineral rights acquired by the registrant, which resulted in the value of such mineral rights being overstated.
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