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) August 14, 2015

 

SUNVAULT ENERGY, INC.

(Exact name of registrant as specified in its charter)

 

Nevada

 

333-181040

 

27-4198202

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

Suite 200 - 10703 - 181 Street NW, Edmonton, Alberta Canada

 

T5S 1N3

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code (778) 478-9530

 

N/A

(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:

 

¨ 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

 

As a result of a review of our company’s transactions, subsequent to our filing of our Form 10-K for our year ended December 31, 2014 (the “Annual Report”) and our Form 10-Q for the interim period ended March 31, 2015 (the “Quarterly Report”), we identified certain errors that have a material impact on our previously issued financial information contained in the Annual and Quarterly Reports filed with the Securities and Exchange Commission on July 17 and July 31, 2015, respectively. Specifically, on August 14, 2015, our independent auditors, Saturna Group Chartered Accountants LLP, notified us that it believed there were errors in the company’s consolidated financial statements relating to the accounting for convertible debt, deferred revenue, and non-controlling interest.

 

Management further discussed the matter with its auditors and both parties agreed that certain transactions relating to the above were not appropriately accounted for and the company determined that the effect of such misstatements were material. As a result, we have decided to restate the audited consolidated financial statements for the year ended December 31, 2104 in the Annual Report and the interim financial statements for the quarterly period ended March 31, 2015 in the Quarterly Report. The consolidated financial statements included within the Annual and Quarterly Reports noted above should no longer be relied upon.

 

Our company plans to file amendments to the Annual and Quarterly Reports in order to accurately restate our previously filed consolidated financial statements by August 20, 2015. 

 

 

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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.

 

 

SUNVAULT ENERGY, INC.

 

       
Date: August 19, 2015 By

 

 

 

Gary Monaghan

 

 

 

Chief Executive Officer & Director

 

 

 

 

 

 

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