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): April 8, 2016
BLUE LINE PROTECTION GROUP, INC.
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(Exact name of Registrant as specified in its charter)
Nevada 000-52942 20-5543728
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
1350 Independence St.,
Lakewood, CO 80215
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(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (800) 844-5576
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(Former name or former address if changed since last report)
Check 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 (see General Instruction A.2. below)
[ ] 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-14(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 4.02. Non-Reliance on Previously Issued Financial Statements or a
Related Audit Report or Completed Interim Review.
On April 8, 2016, the Board of Directors of Blue Line Protection Group,
Inc., (the "Company"), based on the recommendation of management, and after
discussion with the Company's former independent registered public accounting
firm, Seale and Beers, CPAs, determined that the Company's consolidated
financial statements for the fiscal year ended December 31, 2014 should no
longer be relied upon since the expense for the fair value of the stock options
vested upon grant was incorrectly amortized instead of being expensed during the
year.
The effects of the restatement on the Company's financial statements as of,
and for the year ended December 31, 2014, are following:
Balance Sheet
As
Previously Effect of As
Reported Restatement Restated
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Additional paid-in capital $ 2,788,934 $ 692,000 $3,480,934
Accumulated (Deficit) $(2,528,422) $ (692,000)$(3,220,422)
Consolidated Statement of Operations
As
Previously Effect of As
Reported Restatement Restated
------------------------------------
Stock based compensation $ 480,675 $ 692,000 $1,172,675
Net loss $(2,425,941) $ (692,000)$(3,117,941)
Net loss per share - basic
$ (0.02) $ (0.01) $ (0.03)
Net loss per share - fully diluted $ (0.02) $ (0.01) $ (0.03)
Consolidated Statement of Shareholders'
Equity
As
Previously Effect of As
Reported Restatement Restated
------------------------------------
Additional paid-in capital $ 2,788,934 $ 692,000 $3,480,934
Accumulated (Deficit) $(2,528,422) $ (692,000)$(3,220,422)
Consolidated Statement of Cash Flows
As
Previously Effect of As
Reported Restatement Restated
------------------------------------
Operating activities
Net loss $(2,425,941) $ (692,000)$(3,117,941)
Stock based compensation expense $ 490,176 $ 692,000 $1,182,176
2
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.
Date: April 12, 2016
BLUE LINE PROTECTION GROUP, INC.
By: /s/ Dan Allen
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Dan Allen, Chief Executive Officer