First America Resources Corp Sheds Shell Company Status

TL;DR

**First America Resources Corp is no longer a shell company as of February 26, 2024, signaling a potential new business direction.**

AI Summary

First America Resources Corporation (FARC) filed an 8-K on February 28, 2024, reporting a change in its shell company status, effective February 26, 2024. The company, incorporated in Nevada with IRS ID 27-2563052, is located at 1000 East Armstrong Street, Morris, IL 60450. This filing indicates a significant operational shift for FARC, moving it beyond its previous classification as a shell company.

Why It Matters

This change signals that First America Resources Corp is likely engaging in new business operations or has completed a transaction that gives it substantive assets or operations, potentially making it a more active and investable entity.

Risk Assessment

Risk Level: medium — While shedding shell status can be positive, the specific nature of the new operations or assets is not detailed, introducing uncertainty.

Key Numbers

• 2024-02-26 — Effective Date (Date of change in shell company status)
• 333-175482 — SEC File Number (Company's SEC registration number)
• 27-2563052 — IRS ID (Company's IRS identification number)

Key Players & Entities

• First America Resources Corp (company) — registrant
• Nevada (company) — state of incorporation
• 27-2563052 (dollar_amount) — IRS ID
• February 26, 2024 (date) — date of earliest event reported
• February 28, 2024 (date) — filing date

FAQ

From the Filing

0001477932-24-000925.txt : 20240228 0001477932-24-000925.hdr.sgml : 20240228 20240227181310 ACCESSION NUMBER: 0001477932-24-000925 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240226 ITEM INFORMATION: Change in Shell Company Status FILED AS OF DATE: 20240228 DATE AS OF CHANGE: 20240227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: First America Resources Corp CENTRAL INDEX KEY: 0001525306 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 272563052 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-175482 FILM NUMBER: 24689042 BUSINESS ADDRESS: STREET 1: 1000 E. ARMSTRONG ST. CITY: MORRIS STATE: IL ZIP: 60450 BUSINESS PHONE: 815-941-9888 MAIL ADDRESS: STREET 1: 1000 E. ARMSTRONG ST. CITY: MORRIS STATE: IL ZIP: 60450 FORMER COMPANY: FORMER CONFORMED NAME: First America Resource Corp DATE OF NAME CHANGE: 20130930 FORMER COMPANY: FORMER CONFORMED NAME: First American Resource Corp DATE OF NAME CHANGE: 20130927 FORMER COMPANY: FORMER CONFORMED NAME: GOLDEN OASIS NEW ENERGY GROUP, INC. DATE OF NAME CHANGE: 20110711 8-K 1 fstj_8k.htm FORM 8-K fstj_8k.htm 0001525306 false 0001525306 2024-02-26 2024-02-26 iso4217:USD xbrli:shares iso4217:USD xbrli:shares   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): February 26, 2024   First America Resources Corporation (Name of registrant as specified in its charter)   Nevada   333-175482   27-2563052 (State or other jurisdiction of incorporation or organization)   (SEC File No.)   (IRS I.D.)   1000 East Armstrong Street Morris , IL   60450 (Address of principal executive offices)   (Zip Code)   Issuer’s telephone number:  815 - 941-9888   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)     ☐ 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))   Securities registered pursuant to Section 12(b) of the Act:   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ☒   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐         Section 5 – Corporate Governance and Management   Item 5.06 Change to Shell Company Status   On March 28, 2023, First America Resources Corp. (the “Company”) reported that it was not a shell company based on certain corporate actions taken by management including the injection of funds and a proposed property acquisition which is no longer contemplated. On February 26, 2024, the Company decided that the prior reported change was inappropriate and would now report going forward that it is a shell company and accordingly will also file amended quarterly reports and the