8-K 1 doc1.txt 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 Date of Report: October 13, 2004 INVICTA GROUP INC. (Name of Small Business Issuer in Its Charter) Nevada 4700 91-2051923 (State or Other Jurisdiction of (Primary Standard (I.R.S. Employer Incorporation or Organization) Industrial Identification No.) Classification Number) 9553 Harding Avenue, Suite 301 Miami Beach, FL 33154 (305) 866-6525 (Address and Telephone Number of Principal Executive Offices) William G. Forhan, President 9553 Harding Avenue, Suite 301 Miami Beach, FL 33154 (305) 866-6525 (Name, Address and Telephone Number of Agent for Service) SECTION 4 MATTERS RELATED TO ACCOUNTANTS AND FINANCIAL STATEMENTS ITEM 4.02 NON-RELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW. As of October 10, 2004, the registrant concluded that previously issued financial statements, covering interim period ended June 30, 2004 should no longer be relied upon because of an error in such financial statements. The financial statement covering intering period ended June 30, 2004 reflect a change in recognition of revenue. Revenue represents the net commission and fees earned by the company as the primary obligor in accordance with the FAS Board of Emerging issues Task Force issue #99-19, Reporting Revenue Gross vs. Net. Impairment of Long-Lived Assets and Intangible Assets, all Intangible Assets are written of as Asset Impairment Charge of $1,023,753 decreasing profits accordingly. Registrant CEO discussed with the SEC staff revenue recognition issues pertaining to FAS #99-19 and advised the registrant's independent accountants to make respective changes for both 1st and 2nd Quarters 2004 and going forward. The SEC staff also recommended the write off of Intangible Assets. Registrant's management accepted this recommendation. SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. None. SIGNATURE 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 thereunto duly authorized. Invicta Group Inc. Date: October 13, 2004 By: /s/ William G. Forhan ------------------------ William G. Forhan, President