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) March 27, 2006
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instaCare Corp.
(Exact name of registrant as specified in its charter)
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Nevada | 000-33187 | 91-2105842 |
(State or other jurisdiction of | (Commission | (IRS Employer |
incorporation or organization) | File Number) | Identification No.) |
2660 Townsgate Road |
|
Suite 300 |
|
Westlake Village, CA | 91361 |
(Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (805) 446-1973
Copies of Communications to:
Stoecklein Law Group
402 West Broadway, Suite 400
San Diego, CA 92101
(619) 595-4882
Fax (619) 595-4883
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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o 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
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
Restatement of Prior Periods
On March 27, 2006, during the year-end evaluation process conducted by the Registrant’s Chief Executive and Chief Financial Officers, the Registrant evaluated the carrying values of its intangible assets and determined that an impairment of 100% of its investment in Pharma Tech Solutions, one of the Registrant’s subsidiaries, formed in November 2004 for the purposes of acquiring the Registrant’s merger target CareGeneration, Inc., amounting to $1,167,717, should have been made during the three-months ended March 31, 2005. Based upon Management’s review it has been determined that this error was inadvertent and unintentional.
As a result of the impairment of the Registrant’s investment in Pharma Tech Solutions, the Registrant’s first quarter expenses will be increased by $1,167,717 (98%) to $2,363,023 and its first quarter net operating loss will increase to $2,166,374.
As soon as practicable, the Registrant will file amended Reports on Forms 10-QSB for the quarterly periods ended March 31, 2005, June 30, 2005 and September 30, 2005 to include restatements of the financial statements reflective of the impairment of 100% of its investment in Pharma Tech Solutions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
instaCare Corp.
By:./s/ Keith Berman
| Keith Berman, CFO |
Date: April 11, 2006