First America Resources Corp. Admits Shell Company Status
Ticker: FSTJ · Form: 10-Q/A · Filed: 2024-04-08T00:00:00.000Z
Sentiment: bearish
Topics: amendment, shell-company, reporting-error, small-reporting-company
TL;DR
First America Resources Corp. admits it's a shell company in a 10-Q/A filing, correcting prior report.
AI Summary
First America Resources Corp. filed an amendment (10-Q/A) on April 8, 2024, to its Form 10-Q for the quarter ended December 31, 2023. The amendment corrects the cover page disclosure, specifically acknowledging that the company was still considered a shell company, contrary to its original filing on February 14, 2024. The company also confirmed its status as a small reporting company.
Why It Matters
This amendment clarifies the company's financial reporting status, which is crucial for investors to understand its operational and regulatory standing.
Risk Assessment
Risk Level: high — Admitting to being a shell company can indicate a lack of substantial business operations and may pose significant risks to investors.
Key Players & Entities
- First America Resources Corp (company) — Filer of the 10-Q/A amendment
- February 14, 2024 (date) — Date of the original Form 10-Q filing
- April 8, 2024 (date) — Date of the 10-Q/A amendment filing
- December 31, 2023 (date) — End of the fiscal quarter being reported on
FAQ
What specific form is being amended?
The company is filing a Quarterly Report on Form 10-Q/A, Amendment No. 1.
What was the original filing date for the report being amended?
The original report (Form 10-Q) was filed on February 14, 2024.
What was the primary reason for filing the amendment?
The amendment corrects the cover page disclosure where the company erroneously checked the box indicating it was not a shell company.
What is the fiscal year end for First America Resources Corp?
The fiscal year end for First America Resources Corp. is June 30.
Does the filing confirm the company's status as a small reporting company?
Yes, the company has checked the box indicating it is a small reporting company.
From the Filing
0001477932-24-001915.txt : 20240408 0001477932-24-001915.hdr.sgml : 20240408 20240408161803 ACCESSION NUMBER: 0001477932-24-001915 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 41 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240408 DATE AS OF CHANGE: 20240408 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: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-175482 FILM NUMBER: 24829796 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 10-Q/A 1 fstj_10qa.htm FORM 10-Q/A fstj_10qa.htm 0001525306 true --06-30 Q2 2024 First America Resources Corporation (the “Company”) is filing this Quarterly Report on Form 10-Q/A, Amendment No. 1 (the “Quarterly Report on Form 10-Q/A’) to amend its Quarterly Report on Form 10-Q for the second quarter ended December 31, 2023; filed with the United States Securities and Exchange Commission on February 14, 2024 (the “Original Report”). The purpose of this Quarterly Report on Form 10-Q/A is to amend our disclosure on the cover page wherein the Company had erroneously checked the box indicating that it was not a shell when it continued to be a shell company. The Company has also checked the small reporting company since it is. We have made no attempt in this Quarterly Report on Form 10-Q/A to modify or update the disclosures presently in the Original Report other than as noted in the previous paragraph. Except as noted above, this Quarterly Report on Form 10-Q/A does not reflect events occurring after the filing of the Original Report. 7964090 190860 0 0001525306 2023-07-01 2023-12-31 0001525306 fstj:OfficersAndDirectorsMember 2023-12-31 0001525306 fstj:OfficersAndDirectorsJianLiMember 2023-12-31 0001525306 fstj:KemingLiMember 2013-03-31 0001525306 fstj:OfficersAndDirectorsJianLiMember 2021-07-01 2021-12-31 0001525306 fstj:OfficersAndDirectorsJianLiMember 2020-07-01 2021-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2019-07-01 2020-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2013-04-01 2019-06-30 0001525306 fstj:KemingLiMember 2012-04-01 2013-02-28 0001525306 fstj:OfficerAndDirectorJianLiMember 2023-12-31 0001525306 fstj:OfficerAndDirectorJianLiMember 2023-07-01 2023-12-31 0001525306 2023-03-01 2023-03-20 0001525306 srt:PresidentMember 2023-03-01 2023-03-20 0001525306 us-gaap:RetainedEarningsMember 2023-12-31 0001525306 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001525306 us-gaap:CommonStockMember 2023-12-31 0001525306 us-gaap:RetainedEarningsMember 2023-10-01 2023-12-31 0001525306 2023-09-30 0001525306 us-gaap:RetainedEarningsMember 2023-09-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2023-09-30 0001525306 us-gaap:CommonStockMember 2023-09-30 0001525306 2023-07-01 2023-09-30 0001525306 us-gaap:RetainedEarningsMember 2023-07-01 2023-09-30 0001525306 us-gaap:RetainedEarningsMember 2023-06-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001525306 us-gaap:CommonStockMember 2023-06-30 0001525306 2022-12-31 0001525306 us-gaap:RetainedEarningsMember 2022-12-31 0001525306 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001525306 us-gaap:CommonStockMember 2022-12-31 0001525306 us-gaap:RetainedEarningsMember 2022-10-01 2022-12-31 0001525306 2022-09-30 0001525306 us-gaap:RetainedEarningsMember 2022-