- Current report filing (8-K)
December 19 2008 - 5:21PM
Edgar (US Regulatory)
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): December 19,
2008
WESTERN
CAPITAL RESOURCES, INC.
(Exact
name of registrant as specified in its charter)
Minnesota
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000-52015
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47-0848102
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(State
or other jurisdiction of
incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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2201 West
Broadway, Suite 1
Council
Bluffs, Iowa 51501
(Address
of principal executive offices) (Zip Code)
(712)
322-4020
(Registrant’s
telephone number, including area code)
URON
Inc.
(Former
name or former address, if changed since last report)
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:
o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
4.02
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Non-Reliance
on Previously Issued Financial Statements or a Related Audit Report or
Completed Interim Review.
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On
December 19, 2008 the audit committee of the board of directors of Western
Capital Resources, Inc. (the “Company”) concluded, based on recommendations of
management, that the Company’s consolidated financial statements contained in
the Company’s Annual Report on Form 10-K for the fiscal year ended December 31,
2007, Form S-1 and related amendments, and the consolidated interim financial
statements contained in the Company’s Quarterly Reports on Form 10-Q for the
periods ended September 30, 2008, June 30, 2008 and March 31, 2008, as filed
with the Securities and Exchange Commission, should be restated to correct
errors related to the allocation of purchase price to customer relationships as
opposed to goodwill for historical acquisitions. Accordingly, such
financial statements, other financial information and the related reports of
its independent registered public accounting firm should no longer be
relied upon. Management and the audit committee have discussed this
matter with Lurie Besikof Lapidus & Company, LLP, the Company’s independent
registered public accounting firm. The Company intends to file an
amended Annual Report on Form 10-K/A for the fiscal year ended December 31,
2007, Form S-1/A and the amended Quarterly Reports on Form 10-Q/A for the
periods ended September 30, 2008, June 30, 2008 and March 31, 2008.
The Company’s current estimates of the
effects of the corrections to the income statement of the Company are to
increase amortization expense for customer relationships (net of tax) for
approximately $392,000,
$347,000
and
$188,000
for the
years ended December 31, 2006, December 31, 2007 and the nine months ended
September 30, 2008, respectively. The estimated adjustments have been
prepared by management and are in the process of being reviewed by our
independent registered public accounting firm. As such, they are
subject to change as the Company completes preparation of the restated financial
statements.
SIGNATURE
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.
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WESTERN
CAPITAL RESOURCES, INC.:
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(Registrant)
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Date: December
19, 2008
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By:
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/s/ Christopher Larson
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Christopher
Larson
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Chief
Executive
Officer
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Western Capital Resources (CE) (USOTC:WCRS)
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