Current Report Filing (8-k)
23 August 2018 - 5:30AM
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): August 21, 2018
DREAM
HOMES & DEVELOPMENT CORPORATION
(Exact
name of registrant as specified in its charter)
Nevada
|
|
000-55445
|
|
20-2208821
|
(State
or Other Jurisdiction of
|
|
(Commission
|
|
(IRS
Employer
|
Incorporation)
|
|
File
Number)
|
|
Identification
No.)
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314
South Main Street, Forked River, New Jersey 08731
(Address
of principal executive offices, including zip code)
(609)
693-8881
(Registrant’s
telephone number including area code)
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(b) under the Exchange Act (17 CFR 240.14a-12(b))
[ ]
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
August 21, 2018, the Board of Directors of Dream Homes & Development Corporation (the “Company”) determined that
the Company’s previously issued consolidated financial statements for the year ended December 31, 2017 filed in a Form 10-K
on April 17, 2018 and for the three months ended March 31, 2018 filed in a Form 10-Q on May 21, 2018 should no longer be relied
upon.
During
the review of the Company’s consolidated financial statements for the three months ended March 31, 2018, certain errors
in the Company’s consolidated financial statements for both the year ended December 31, 2017 and for the three months ended
March 31, 2018 were detected by Michael T. Studer CPA P.C. (“Studer”), our independent registered public accounting
firm. The errors principally relate to the accounting for certain contracts under the “percentage of completion method”
and appear to be significant. Accordingly, these previously issued financial statements should no longer be relied on.
The
Company has discussed the matter disclosed in this Form 8-K with Studer. Studer concurs with the Company’s filing of this
Form 8-K to state that such financial statements should no longer be relied on.
The
Company expects to file in the near future an amended December 31, 2017 Form 10-K and an amended March 31, 2018 Form 10-Q containing
restated consolidated financial statements.
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 hereunto duly authorized.
Dated:
August 22, 2018
DREAM
HOMES & DEVELOPMENT CORPORATION
By:
|
/s/
Vincent
Simonelli
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Name:
|
Vincent
Simonelli
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Title:
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Chief
Executive Officer and Chief Financial Officer
|
|
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