Current Report Filing (8-k)
10 October 2018 - 12:25AM
Edgar (US Regulatory)
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): October 9, 2018 (October 6, 2018)
CHINA
ADVANCED CONSTRUCTION MATERIALS GROUP, INC.
|
(Exact
name of registrant as specified in its charter)
|
Nevada
|
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001-34515
|
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20-8468508
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(State
or other jurisdiction
of incorporation)
|
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(Commission
File Number)
|
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(IRS
Employer
Identification No.)
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9
North West Fourth Ring Road Yingu Mansion Suite 1708
Haidian
District Beijing, People’s Republic of China
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100190
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(Address
of principal executive offices)
|
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(Zip
Code)
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Registrant’s
telephone number, including area code:
+86 10 82525361
N/A
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(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))
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item
4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
On
October 6, 2018, the Audit Committee of the Board of Directors of China Advanced Construction Materials Group, Inc. (the “Company”),
after consultation with the Company’s independent registered public accounting firm, Friedman LLP (“Friedman”)
concluded, that the Company’s audited financial statements at and for the period ended June 30, 2017 contained in the Company's
Annual Reports on Form 10-K originally filed with the SEC on as well the unaudited financial statements at and for the periods
ended March 31, 2018, December 31, 2017 and September 28, 2017 contained in the Company’s Quarterly Reports on Form 10-Q
originally filed on November 15, 2017, February 13, 2018 and May 15, 2018, respectively, should no longer be relied upon.
The
Company’s review of the above mentioned filings revealed that the financial statements in such filings contained errors
primarily as a result of omission of certain contingencies. As a result of such review, the Company has decided to make certain
corrections to include certain contingencies disclosure in the aforementioned consolidated financial statements and notes thereto.
In addition, the Company is also evaluating whether any of the contingencies loss should be recorded in the aforementioned consolidated
financial statements and the impact of the adjustments cannot be determined as this time.
The
Company will, as soon as practicable, make these adjustments by filing with the SEC amendments to the above reference reports
which, in each case, will include revised the aforementioned consolidated financial statements and notes thereto, and other appropriate
revisions to reflect the foregoing.
As
a result of the errors described above, management has concluded that the Company’s internal control over financial reporting
and its disclosure controls and procedures were not effective as of the ends of each of the applicable restatement periods. The
Company will amend any disclosures pertaining to its evaluation of such controls and procedures, as appropriate, in connection
with the amended filings.
The
impact of the adjustment from each period cannot be evaluated at this time since we do not have all the available source of information
to evaluate each case.
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.
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CHINA
ADVANCED CONSTRUCTION MATERIALS GROUP, INC.
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|
|
|
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By:
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/s/
Xianfu Han
|
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Name:
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Xianfu
Han
|
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Title:
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Chief
Executive Officer
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2
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