8-K 1 f4thdraft8ksep081.htm FORM 8-K Section 4 - Matters Related to Accountants and Financial Statements


 

 

UNITED STATES
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 (Date of earliest event reported):  See Below


U. S. CANADIAN MINERALS, INC.

(Exact name of registrant as specified in its charter)


Nevada

 

000-25523

 

33-0843633

(State or Other Jurisdiction

 

(Commission

 

(I.R.S. Employer

of Incorporation)

 

File Number)

 

Identification No.)



#161 – 936 Peace Portal Drive

Blaine, Washington 98230

(Address of Principal Executive Office) (Zip Code)


(702) 357-8722

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)


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))

 




Section 4 - Matters Related to Accountants and Financial Statements

4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review

U S Canadian Minerals Inc (the Company) has restated its financial statements for the years ended December 31, 2004 through 2007 as a result of the determination by the Board of Directors post July 20, 2008 that the financial statements for such periods can no longer be relied upon. The restatement follows a recommendation by management that expenses in these previously issued financial statements should be adjusted because: FAS 128 states that the decrease in shares as a result of a reverse stock split or dividend is to be given retroactive recognition as an appropriate equivalent charge for all periods presented. In the original financials the stock split was not retroactively applied, therefore, the restatement of the stock is considered a correction of an error. In addition certifications by management concerning Internal Controls on Financial Reporting needed to be updated to reflect Item 601(b)(31) and to conform with 13(a)-15 and 15(d)-15 Item 308T(a) of Regulation S-B.

Section 5 - Corporate Governance and Management

5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

U S Canadian Minerals Inc announces effective September 14, 2008 the resignation of Adam Jenn from the position of President, CEO and Director of U S Canadian Minerals. Mr. Jenn has now been contracted as Advisor and Consultant to the Board of Directors of U S Canadian Minerals Inc . Van der Bok Busboom CFO shall continue to serve as CFO and as interim President and CEO.


SIGNATURES


In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


 

U.S. CANADIAN MINERALS, INC.

Date: September 17, 2008

By: /s/ Van der Bok Busboom

 

 Principal Financial Officer