UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1 TO FORM
FORM 8-K
CURRENT REPORT
PURSUANT SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Report): August 14, 2000
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PANGEA PETROLEUM CORPORATION
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(Exact name of registrant as specified in its charter)
Colorado
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(State or jurisdiction of incorporation or organization)
76-0635938
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(I.R.S. Employer Identification No.)
000-29585
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(Commission File Number)
6776 Southwest Freeway, Suite 620
Houston, Texas 77074
832-242-3381
(Address, including zip code and telephone number, including area
code, of registrant's executive offices)
ITEM 1. CHANGES IN CONTROL OF REGISTRANT
Not applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
Not applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP
Not applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
a) The previous independent accountant for Pangea Petroleum Corporation
(the Company) was James J. Taylor, CPA.
i) On August 14, 2000, the Company determined to appoint new
independent accountants, and the Company dismissed James J.
Taylor, CPA.
ii) The reports of James J. Taylor, CPA on the Company's financial
statements for the years ended December 31, 1999 and 1998
contained no adverse opinion or disclaimer of opinion and were
not qualified or modified as to audit scope or accounting
principles. However, the reports on the financial statements of
the Company for the years ended December 31, 1999 and 1998 were
qualified due to an uncertainty concerning the
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existence of substantial doubt about the Company's ability to
continue as a going concern. The accountant's report stated the
following:
"The accompanying financial statements have been prepared
assuming Pangea Petroleum Corporation will continue as a going
concern. As shown in the financial statements, the Company has a
deficit accumulated during the development stage of $408,118
through 1999 and $17,488 through 1998. The Company has operated
as a development stage enterprise since its inception by devoting
substantially all of its efforts to financial planning and
raising capital. These conditions raise substantial doubt about
the Company's continued existence. The financial statements do
not include any adjustments that might result from the outcome of
these uncertainties."
iii) The Company's board of directors approved the Company's decision
to dismiss James J. Taylor, CPA as its independent accountant and
appoint R.E. Bassie & Co., P.C. as its new independent
accountant.
iv) During the years ended December 31, 1999 and 1998, and the
subsequent periods up to the date of the dismissal of the former
independent accountant on August 14, 2000, there were no
disagreements with the former independent accountant on any
matter of accounting principles or practices, financial statement
disclosure or auditing scope or procedure.
v) The Company has received a letter from James J. Taylor, CPA
addressed to the SEC stating that it agrees with the above
statements. A copy of such letter is filed as Exhibit 16.1 to
this Form 8-K/A.
b) New independent accountants
i) On August 14, 2000, the Company engaged the accounting firm of R.
E. Bassie & Co., P.C.
ITEM 5. OTHER EVENTS
Not applicable.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements of Business Acquired. Not applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Exhibits.
16.1 Letter from James J. Taylor, CPA agreeing with the statements
contained in this Form 8-K.
ITEM 8. CHANGE IN FISCAL YEAR
Not applicable.
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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, thereunto duly authorized.
/s/ Charles B Pollock
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Charles B. Pollock,
Chief Executive Officer
DATE: June 11, 2001