MORE LIES. HERE IS THE TRUTH:
Pretty simple actually:
The words "FALSE and MISLEADING STATEMENTS with the SEC....."
are YOUR words, but your attempt to create "sizzle" is noted.
Here is the truth for anyone interested:
Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
On February 14, 2008, the Board of Directors of Global Music International, Inc. (the “Company”) concluded that the Company’s previously issued financial statements for each reporting period from January 1, 2006 through September 30, 2007 will be restated to make necessary accounting adjustments. Accordingly, the Company’s prior financial statements for such periods should no longer be relied upon.
The Board of Directors has concluded that the Company will need to restate certain of its historical financial statements to change the amount of non-cash consulting and compensation charges relating to beneficial conversion features, common stock issuances and stock options grants. The charges in the periods indicated above were calculated giving consideration to discounts to market value of the Company’s common stock for certain market conditions. The Company has determined that the application of such discounts is not appropriate and will restate these charges accordingly. The Company has not determined the amount of such additional charges. However, the effects on previously reported financial statements are expected to be material.
The decision to restate the Company’s financial statements was made by the Board of Directors on February 14, 2008. The Company has discussed the need to restate the previously issued financial statements and the matters disclosed in this filing with its independent registered public accountants, Carlin, Charron & Rosen, LLP.
It was nothing illegal, or any attempt to commit any fraud, but was merely a restatement to correct how their public accounting firm incorrectly treated calculations for discounts for market value. Non-issue
I SWEAR I know what a NDA is!
I SWEAR I know what a NDA is!
