UNITED STATES
SECURITIES 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:
November 19, 2012
HITOR GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada | 333-103986 | 98-0384073 |
State or other jurisdiction of incorporation | Commission File Number | IRS Identification No. |
6513 132nd Ave NE #376
Kirkland WA 98033
(Address of principal executive offices and Zip Code)
Registrants telephone number, including area code: (206) 245-5533
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)
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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 Report
Prior to the issuance of the financial statements for the period ended September 30, 2012, management determined that it had not recorded a consulting agreement between Turon Capital Partners, Inc. and the Company. The agreement was effective on March 2, 2012, and resulted in a restatement for both the March 31, 2012 and June 30, 2012 financial statements, which were filed with the SEC on January 10, 2013. The agreement between the parties was for ongoing consulting and support assistance for the marketing of all the Companys products. The term of the agreement is for a period of twelve months but can be canceled by either party with a sixty day written notice by certified/registered mail. Compensation provided to Turon Capital Partners, Inc. was in the form of an issuance of 3,142,750 common shares. Furthermore, the Company has agreed to advance $50,000 upon the approval of a ninety day marketing plan that has yet to be finalized.
The following table represents the effects of the restated statements as of March 31, 2012 and June 30, 2012:
| March 31, 2012 |
| June 30, 2012 | ||||
| Restated |
| Original |
| Restated |
| Original |
Prepaid expenses | 316,894 |
| 0 |
| 230,468 |
| 0 |
Common Stock | 69,231 |
| 66,088 |
| 69,231 |
| 91,088 |
Capital in excess of Par Value | 1,580,296 |
| 1,237,736 |
| 1,602,796 |
| 1,237,736 |
Retained Deficit | (1,848,149) |
| (1,941,562) |
| (1,848,149) |
| (1,998,588) |
(Loss)/Income | (122,201) |
| (93,413) |
| (277,468) |
| (150,439) |
Revenues and expenses will not be affected, except as per share calculations.
Registrants audit committee, or members serving as such, discussed the matter with the Companys independent accountant.
SIGNATURES
HITOR GROUP, INC.
Ken Martin, CEO