SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Act of 1934
(Date of Report)
Delaware |
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000-55206 |
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46-5488722 |
(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION) |
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(COMMISSION FILE NO.) |
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(IRS EMPLOYEE IDENTIFICATION NO.) |
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(ISSUER TELEPHONE NUMBER)
On or about July 6, 2015, in response to comment made by the Commission, the Board of Directors for AmericaTowne, Inc. (the "Company"), in consultation with management and its advisors, concluded that the Company's Form 10-K/A for fiscal year ending December 31, 2014 and Form 10-Q/A for the fiscal quarter ending March 31, 2015 failed to comply with ASC 605-45-45 in so far as these filings failed to reflect revenue equal to $141,921 and $129,425, respectively, which accounted for $194,034 in service fee revenues minus $52,113 for the costs of the revenues for the year ended December 31,2014 and $166,136 in service fee revenues minus $36,711 for the costs of the revenues for the three months ended March 31,2015. In light of the error identified above, the Company's originally previously filed financial statements and other financial information for the fiscal year ending December 31, 2014 and for the fiscal quarter ending March 31, 2015 should no longer be relied upon. The aforementioned error will be corrected in upcoming amended disclosures under Form 10-K/A and Form 10-Q/A.
The Company will disclose on its Form 10-K/A for fiscal year ending December 31, 2014 and Form 10-Q/A for the fiscal quarter ending March 31, 2015 including a discussion of the restatement and the facts and circumstances surrounding it, changes to internal controls over financial reporting, and anticipated changes to disclosure controls and procedures and/or internal controls over financial reporting to prevent future misstatements of a similar nature. The Board of Directors discussed the matters disclosed in this filing with the Company's independent registered public accountants.