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 21, 2011
Amerigo Energy, Inc.
------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 000-09047 20-3454263
-------------------------------------------------------------------
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
2580 Anthem Village Dr., Henderson, NV 89052
-------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 702-399-9777
Not Applicable
-------------------------------------------------------------
(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 (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-4(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 March 21, 2011, management and the Audit Committee of the Board of
Directors of Amerigo Energy, Inc. (the "Company") determined, in consultation
with the Company's full Board of Directors, that the Company's audited
financial statements in the Annual Report on Form 10-K for the period ended
December 31, 2009 contain a valuation error and, therefore, should no longer be
relied upon.
Management has determined, as well as hindsight lends to confirm, that
the assets purchased during 2008 should have been impaired and/or recorded at a
lesser amount. Previously, the assets were recorded in 2008 and then
subsequently written down in 2009 and 2010. The 2009 financials had originally
taken an impairment charge of $11,458,542, whereas the majority of this relates
to assets purchased in 2008, thus the 2008 and 2009 values at year end have now
been adjusted to reflect this. We anticipate filing the restated 2009 numbers
with our 2010 Annual Report timely.
The Company's management and Audit Committee have discussed this matter
with Seale and Beers, LLC, the Company's independent registered public
accounting firm.
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.
AMERIGO ENERGY, INC.
(Registrant)
Date: March 29, 2011
By: /s/ Jason F. Griffith
--------------------------
Jason F. Griffith
Its:Chief Executive Officer,
Chief Financial Officer and Director