Ranger Gold Corp. Financial Statements Unreliable
Ticker: RNGC · Form: 8-K · Filed: Jul 1, 2024 · CIK: 1434740
| Field | Detail |
|---|---|
| Company | Ranger Gold Corp. (RNGC) |
| Form Type | 8-K |
| Filed Date | Jul 1, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: restatement, financial-reporting, non-reliance
TL;DR
Ranger Gold's financials are toast, don't trust 'em. Restatement coming.
AI Summary
Ranger Gold Corp. filed an 8-K on July 1, 2024, to report that its previously issued financial statements for the fiscal year ended March 31, 2024, should not be relied upon. This non-reliance is due to an error identified in the financial statements, which will require restatement. The company has not yet provided specific details on the nature or magnitude of the error.
Why It Matters
Investors should be aware that the previously reported financial performance of Ranger Gold Corp. is inaccurate and will be restated, potentially impacting investment decisions.
Risk Assessment
Risk Level: medium — The need to restate financial statements indicates potential accounting issues or internal control weaknesses, which can create uncertainty for investors.
Key Players & Entities
- Ranger Gold Corp. (company) — Registrant
- June 26, 2024 (date) — Earliest event date
- March 31, 2024 (date) — Fiscal year end for restated financials
- July 1, 2024 (date) — Filing date of the 8-K
- 000-53817 (company) — SEC File Number
FAQ
What is the primary reason for Ranger Gold Corp.'s 8-K filing?
The primary reason is to inform the SEC and the public that previously issued financial statements for the fiscal year ended March 31, 2024, should not be relied upon due to an error.
When was the earliest event reported in this 8-K filing?
The earliest event reported is dated June 26, 2024.
What specific fiscal year do the unreliable financial statements pertain to?
The unreliable financial statements pertain to the fiscal year ended March 31, 2024.
What action will Ranger Gold Corp. take regarding the identified error?
The company will restate the previously issued financial statements to correct the identified error.
What is Ranger Gold Corp.'s principal executive office address?
The principal executive office is located at 0 West Park Avenue, Suite 207, Long Beach, NY 11561.
Filing Stats: 937 words · 4 min read · ~3 pages · Grade level 12.4 · Accepted 2024-07-01 17:24:26
Filing Documents
- rngr_8k.htm (8-K) — 28KB
- 0001477932-24-004017.txt ( ) — 143KB
- rngr-20240626.xsd (EX-101.SCH) — 6KB
- rngr-20240626_lab.xml (EX-101.LAB) — 13KB
- rngr-20240626_cal.xml (EX-101.CAL) — 1KB
- rngr-20240626_pre.xml (EX-101.PRE) — 8KB
- rngr-20240626_def.xml (EX-101.DEF) — 2KB
- rngr_8k_htm.xml (XML) — 4KB
02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
Item 4.02. Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review On June 26, 2024, the board of directors, which functions as the registrant's audit committee, and management of Ranger Gold Corp. ("we," "us" or the "Company") concluded that the financial statements for the three and nine months ended December 31, 2023 (collectively, the "December 2023 Financial Statements") should no longer be relied upon. In the course of preparing the financial statements of Ranger Gold Corp. (the "Company") for the year ended March 31, 2023, management discovered that it failed to record the payment of certain accounts payable (the "Unrecorded Items") in the audited financial statements as of for the fiscal year ended March 31, 2022 (the "Previously Issued Financial Statements"). The Unrecorded Items represented expenses incurred by the Company that were paid directly by management of the Company through personal accounts and not through the Company's bank account. The failure to record the Unrecorded Items in the Previously Issued Financial Statements resulted in material errors in the Previously Issued Financial Statements and necessitated material changes to the stockholders' equity section of the balance sheet and the statements of operations of the Previously Issued Financial Statements. The Company also failed to record the Unrecorded Items in the unaudited financial statements as of and for the quarters ended June 30, 2022, September 30, 2022 and December 31, 2022. The Board of Directors of the Company (the "Board") determined that the failure to record these transactions wase not the result of fraud but were errors of omission. The Previously Issued Financial Statements had been filed with the Company's registration statement on Form 10 that became effective under the Securities Exchange Act of 1934, as amended, on August 29, 2022 (the "Form 10"). On November 13, 2023, the Company filed an amendment to the Form
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K: 104 Cover Page Interactive Data (embedded within the Inline XBRL document) 2
SIGNATURES
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. RANGER GOLD CORP. Dated: July 1, 2024 By: /s/ Bryan Glass Bryan Glass President 3