Attached files
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
March 2,
2010
Date of
Report (Date of earliest event reported)
(Exact
name of registrant as specified in its charter)
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Nevada
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000-28753
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33-0880427
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(State
or other jurisdiction of incorporation)
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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Republic
Center, Suite 1350 325 N. St. Paul St. Dallas, TX 75201
(Address
of Principal Executive Offices)
214-880-4870
(Issuer
Telephone number)
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
4.01 Change in Registrant's Certifying Accountant.
Turner
Stone & Company, LLP was dismissed on March 2, 2010, as Freestone Resources,
Inc.’s independent auditors. Turner Stone & Company, LLP's report
on Freestone Resources, Inc.'s financial statements as of and for the year ended
June 30, 2009, did not contain any adverse opinion or disclaimer of opinion, or
qualification or modification as to uncertainty, audit scope, or accounting
principles. However, their report contained an explanatory paragraph
disclosing the uncertainty regarding the ability of the Company to continue as a
going concern.
During
the most recent fiscal year ending June 30, 2009, and the subsequent interim
period through March 2, 2010, there were no disagreements with Turner Stone
& Company, LLP on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope and procedures which, if not
resolved to the satisfaction of Turner Stone & Company, LLP would have
caused Turner Stone & Company, LLP to make reference to the matter in their
report. However, Turner, Stone & Company, LLP did issue a letter
dated October 28, 2009 informing us of several significant deficiencies in our
internal controls. A copy of their letter is filed as Exhibit 16.2 to
this Form 8-K. Freestone Resources, Inc. has requested Turner Stone
& Company, LLP to furnish it a letter addressed to the Commission stating
whether it agrees with the above statements. A copy of the Turner
Stone & Company, LLP letter is filed as Exhibit 16.1 to this Form
8-K. The decision to change accountants was approved by the Board of
Directors.
Freestone
Resources, Inc.’s new accountant, The Hall Group, CPAs, was engaged on March 4,
2010, as Freestone Resources, Inc.'s principal accountant to audit the financial
statements of Freestone Resources, Inc. The decision to change
accountants was approved by the Audit Committee of the Board of Directors and
the full Board of Directors of Freestone Resources, Inc.
During
the period ending June 30, 2009, and the subsequent interim period through March
2, 2010, neither Freestone Resources, Inc. nor anyone on its behalf consulted
with The Hall Group, CPAs regarding either the application of accounting
principles to a specified transaction, either completed or proposed, or the type
of audit opinion that might be rendered on Freestone Resources, Inc.'s financial
statements, nor has The Hall Group, CPAs provided to Freestone Resources, Inc. a
written report or oral advice regarding such principles or audit opinion or any
matter that was the subject of a disagreement or reportable events set forth in
Item 304(a)(iv) and (v), respectively, of Regulation S-K with Freestone
Resources, Inc.'s former accountant, Turner Stone & Company,
LLP.
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(d)
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Exhibits.
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16.1
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Letter
from Turner Stone & Company, LLP regarding change in certifying
accountant.
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| 16.2 | Letter from Turner, Stone & Company, LLP informing Freestone Resources, Inc. of several significant deficiencies in the Company's internal controls. |
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SIGNATURE
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.
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FREESTONE
RESOURCES, INC.
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March
4, 2010
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By:
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/s/
Clayton Carter
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Clayton
Carter
Chief
Executive Officer
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