First America Resources Corp. Corrects Shell Company Status in 10-K/A

TL;DR

First America Resources Corp. admits it was a shell company in its 2023 10-K filing, correcting a prior error.

AI Summary

First America Resources Corp. filed an amended 10-K/A on April 12, 2024, to correct its previous filing for the fiscal year ended June 30, 2023. The amendment corrects the cover page, specifically acknowledging that the company was a shell company during the reporting period, a fact that was erroneously omitted in the original filing submitted on October 6, 2023. The company also confirmed its status as a small reporting company.

Why It Matters

This amendment clarifies the company's financial structure and reporting status, which is crucial for investors to accurately assess its financial health and potential risks.

Risk Assessment

Risk Level: medium — The correction of a shell company status in an amended filing indicates potential past misrepresentation or a significant change in the company's operational status, warranting closer investor scrutiny.

Key Players & Entities

• First America Resources Corp. (company) — Filer of the 10-K/A
• October 6, 2023 (date) — Date of original 10-K filing
• April 12, 2024 (date) — Date of 10-K/A filing
• June 30, 2023 (date) — Fiscal year end for the report

FAQ

From the Filing

0001477932-24-002043.txt : 20240412 0001477932-24-002043.hdr.sgml : 20240412 20240412150141 ACCESSION NUMBER: 0001477932-24-002043 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 44 CONFORMED PERIOD OF REPORT: 20230630 FILED AS OF DATE: 20240412 DATE AS OF CHANGE: 20240412 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-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-175482 FILM NUMBER: 24841124 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-K/A 1 fstj_10ka.htm FORM 10-KA fstj_10k.htm 0001525306 true --06-30 FY 2023 0 First America Resources Corporation (the “Company”) is filing this amended Annual Report on Form 10-K/A, Amendment No. 1 (the “Annual Report on Form 10-K/A’) to amend its Annual Report on Form 10-K for the year ended June 30, 2023; filed with the United States Securities and Exchange Commission on October 6, 2023 (the “Original Report”). The purpose of this amended Annual Report on Form 10-K/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 amended Annual Report on Form 10-K/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 amended Annual Report on Form 10-K/A does not reflect events occurring after the filing of the Original Report. 0.001 500000000 7964090 7964090 0001525306 2022-07-01 2023-06-30 0001525306 fstj:OfficersAndDirectorsMember 2023-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2023-06-30 0001525306 fstj:KemingLiMember 2013-03-31 0001525306 fstj:OfficersAndDirectorsJianLiMember 2020-07-01 2021-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2019-07-01 2020-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2018-07-01 2019-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2021-07-01 2022-06-30 0001525306 fstj:OfficersAndDirectorsJianLiMember 2013-04-01 2018-06-30 0001525306 fstj:KemingLiMember 2012-04-01 2013-02-28 0001525306 fstj:OfficerAndDirectorJianLiMember 2023-06-30 0001525306 fstj:OfficerAndDirectorJianLiMember 2022-07-01 2023-06-30 0001525306 srt:PresidentMember 2022-07-01 2023-06-30 0001525306 srt:PresidentMember 2023-03-01 2023-03-20 0001525306 us-gaap:RetainedEarningsMember 2023-06-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2023-06-30 0001525306 us-gaap:CommonStockMember 2023-06-30 0001525306 us-gaap:RetainedEarningsMember 2022-07-01 2023-06-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2022-07-01 2023-06-30 0001525306 us-gaap:RetainedEarningsMember 2022-06-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2022-06-30 0001525306 us-gaap:CommonStockMember 2022-06-30 0001525306 us-gaap:RetainedEarningsMember 2021-07-01 2022-06-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2021-07-01 2022-06-30 0001525306 us-gaap:CommonStockMember 2021-07-01 2022-06-30 0001525306 2021-06-30 0001525306 us-gaap:RetainedEarningsMember 2021-06-30 0001525306 us-gaap:AdditionalPaidInCapitalMember 2021-06-30 0001525306 us-gaap:CommonStockMember 2021-06-30 0001525306 2021-07-01 2022-06-30 0001525306