MICROELECTRONICS TECHNOLOGY COMPANY
FORM 8-K/A
(Current report filing)
Filed 03/19/10 for the Period Ending 03/12/10
Address 1702 ChinaChem Tower,
34 - 37 Connaught Road, Central,
Hong Kong, China
Telephone (888) 777-8777
CIK 0001329136
Symbol MELY
SIC Code 1000 - Metal Mining
Industry Gold & Silver
Sector Basic Materials
Fiscal Year 06/30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
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 12, 2010
MICROELECTRONICS TECHNOLOGY COMPANY
( Exact name of registrant as specified in its charter )
Nevada
( State or Other Jurisdiction of Incorporation )
333-130767
( Commission File Number )
N/A
( I. R. S. Employer Identification No. )
1702 ChinaChem Tower, 34-37 Connaught Road, Central, Hong Kong, China
( Address of principal executive offices, including zip code. )
888-777-8777
( 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 CRF 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CRF 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17CRF 240.14d-2(b) )
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17CRF 240.13e-4(c) )
Item 4.02 Non-Reliance on Previously Issued Financial
Statements or a Related Audit
Report or Completed Interim Review.
On or about February 5, 2010, a telephone discussion
between the Registrant's Chief Financial Officer and our
independent registered public accounting firm related to
the non-reliance on the previously issued financial
statements.
The Registrant's board of directors concludes on February
9, 2010 upon discussions with our new independent
registered public accounting firm, that the previously
issued financial statements, for Form 10-K for the year
ending June 30, 2009 and the related statements of
operations, stockholders' equity (deficiency), and cash
flows for the years ended June 30, 2009, and for the period
May 18, 2005 (inception) to June 30, 2009 for which the
registrant is required to provide financial statements
under Regulation S-X should no longer be relied upon due to
material errors involving unrecorded liabilities and stock
based compensation.
The nature of the restatement as enclosed below.
The Company has restated its financial statements as at
June 30, 2009 and for the year then ended to adjust for
errors (items (a), (b) and (d)) and reclassification of
amounts (item (c)). The effect of the restatement is to
increase net loss by $138,470.
As at June 30, 2009
_______________________________________
As Previously
a) Balance Sheet Reported Adjustment As Restated
$ $ $
Current liabilities
Accounts payable and
accrued liabilities (62,944) a) 1,530 (66,414)
b) (5,000)
Due to related party 190,084 c) (190,084) -
Due to former related party - c) 190,084 190,084
Stockholder's Deficit
Deferred stock-based
compensation (135,000) d) 135,000 -
Accumulated deficit (938,207) (138,470) (1,076,677)
As at June 30, 2009
_______________________________________
b) Statement of Operations As Reported Adjustment As Restated
$ $ $
Operating Expenses
General and administrative 241,135 138,470 379,605
_____________________________________________________________________
Net Loss for the Year (241,135) (138,470) (379,605)
Net loss per common share
- - basic and diluted (5.43) (3.12) (8.55)
a) To reduce amounts owing as accounts payable at June 30, 2009.
b) To record unbilled legal fees owing at June 30, 2009.
c) To reclassify amounts owing to a former related party.
d) To expense deferred compensation for fully vested shares issued.
The board of directors have discussed with the new
independent accountant the matters disclosed in the filing
pursuant to this item 4.02(b).
The Company has also requested that Manning Elliott furnish
it with a letter addressed to the Securities and Exchange
Commission stating whether or not it agrees with the above
statements made by the Company in response to this Item
4.02.
Exhibit 16.1: Letter from Manning Elliott as per attach.
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.
MICROELECTRONICES TECHNOLOGY COMPANY
/s/ Brian Stewart
- ---------------------
Brian Stewart
Director & Chief Executive Officer
March 17, 2010
Exhibit 16.1
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC USA 20549
Re: Microelectronics Technology Company
This letter will confirm that we reviewed Item 4.02 of the
Company's Form 8-K/A dated March 12, 2010, captioned "Non-
Reliance on Previously Issued Financial Statements or a
Related Audit Report or Completed Interim Review" and that
we agree with the all the statements made therein.
We hereby consent to the filing of this letter as an
exhibit to the foregoing report on Form 8-K/A.
/s/ MANNING ELLIOTT LLP
CHARTERED ACCOUNTANTS
Vancouver, Canada
March 17, 2010