8-K 1 gsen8k41511.htm FORM 8-K gsen8k41511.htm

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

_____________________

FORM 8-K
_____________________


CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

COMMISSION FILE NO.: 0-33513



Date of Report: April 12, 2011

 
 
GS ENVIROSERVICES, INC.
(Exact name of registrant as specified in its charter)



Delaware
  
20-8563731
(State or other jurisdiction
  
(IRS Employer
of incorporation or organization)
  
Identification No.)
     
5950 Shiloh Road East, Suite N, Alpharetta, Georgia
30005
(Address of principal executive offices)
(Zip Code)
 
(212) 994-5374
  
 
(Registrant’s telephone number)
  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
□  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
□  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
□  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




 
 
 
 


ITEM 4.02                      Non-Reliance on Previously Issued Financial Statements

On April 12, 2011 the Registrant’s Chief Executive Officer, pursuant to authority from the Board of Directors, concluded that the following financial statements should not be relied upon:

·  
the financial statements of the Registrant for the three and six month periods ended June 30, 2010 included  in its Quarterly Report on Form 10-Q  for the period ended June 30, 2010.

·  
the financial statements of the Registrant for the three and nine month periods ended September 30, 2010 included  in its Quarterly Report on Form 10-Q  for the period ended September 30, 2010.

The determination was based on his conclusion that the Registrant had failed to record expenses related to a consulting agreement entered into on June 23, 2010 that provided for payment for services commencing on March 1, 2010.  The Chief Executive Officer has discussed this determination with the Registrant’s independent accountant.

The Registrant will disclose the effect of the error on the aforesaid financial statements in its Annual Report on Form 10-K for the year ended December 31, 2010.  The effect of the amendments is demonstrated in the following table.

Balance Sheet
   
June 30,2010
    
 
September 30, 2010
  
   
Restated
    
Adjustments
    
Reported
    
Restated
    
Adjustments
    
Reported
  
Liabilities and Stockholders’ Deficit
                                    
Current liabilities:
                                    
Accrued expenses
     124,457       28,000       96,457       201,490       49,000       152,490  
Total current liabilities
     387,686       28,000       359,686       468,602       49,000       419,602  
Total liabilities
     387,686       28,000       359,686       468,602       49,000       419,602  
                                                 
Stockholders’ deficit:
                                                
Retained deficit
     (5,516,332 )     (28,000 )     (5,488,332 )     (5,597,248 )     (49,000 )     (5,548,248 )
Total Stockholders’ equity (deficit)
     (387,686 )     (28,000 )     (359,686 )     (468,603 )     (49,000 )     (419,602 )

Statements of Operations
   
Three Months
    
Three Months
  
   
Ended
          
Ended
        
   
June 30,
          
September 30
        
   
Restated
    
Adjustments
    
Reported
    
Restated
    
Adjustments
    
Reported
  
Operating expenses:
                                    
General and administrative expenses
     89,123       28,000       61,123       78,884       21,000       53,884  
Total operating expenses
     89,123       28,000       61,123       78,884       21,000       53,884  
Operating loss
     (89,123 )     (28,000 )     (61,123 )     (78,884 )     (21,000 )     (53,884 )
Loss before provision for income taxes
     (95,675 )     (28,000 )     (67,675 )     (80,917 )     (21,000 )     (59,917 )
Net loss from continuing operations
     (95,675 )     (28,000 )     (67,675 )     (80,917 )     (21,000 )     (59,917 )
Net loss per share, basic and diluted
     (0.01 )     (0.00 )     (0.00 )     (0.01 )     (0.00 )     (0.00 )

 
Six Months
Ended
June 30,
Nine Months
Ended
September 30
 
 
 
Restated
Adjustments
Reported
Restated
Adjustments
Reported
Operating expenses:
            
General and administrative expenses
119,516
28,000
91,516
194,400
49,000
145,400
Total operating expenses
119,516
28,000
91,516
194,400
49,000
145,400
Operating loss
(119,516)
(28,000)
(91,516)
(194,400)
(49,000)
(145,400)
Loss before provision for income taxes
(131,937)
(28,000)
(103,937)
(212,854)
(49,000)
(163,854)
Net loss from continuing operations
(131,937)
(28,000)
(103,937)
(212,854)
(49,000)
(163,854)
Net loss per share, basic and diluted
(0.01)
(0.00)
(0.01)
(0.01)
(0.00)
(0.01)


 
SIGNATURES
 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
     GS ENVIROSERVICES, INC.    
         
By:
/s/
KEVIN KREISLER
    
   
KEVIN KREISLER
    
   
Chief Executive Officer