Item
4.01 Change in Registrant's Certifying Accountant.
Malone
& Bailey, P.C. was dismissed on January 6, 2009, as Freestone Resources,
Inc.’s independent auditors. Malone & Bailey, P.C.'s reports on Freestone
Resources, Inc.'s financial statements as of and for the years ended June 30,
2008 and June 30,2007, did not contain any adverse opinion or disclaimer of
opinion, or qualification or modification as to uncertainty, audit scope, or
accounting principles. However, both reports contained an explanatory
paragraph disclosing the uncertainty regarding the ability of the Company to
continue as a going concern.
During
the two most recent fiscal years ending June 30, 2008 and June 30, 2007, and the
subsequent interim period through Jan. 6, 2009, there were no disagreements with
Malone & Bailey, P.C. on any matters of accounting principles or practices,
financial statement disclosure, or auditing scope and procedures which, if not
resolved to the satisfaction of Malone & Bailey, P.C. would have caused
Malone & Bailey, P.C. to make reference to the matter in their
report. Freestone Resources, Inc. has requested Malone & Bailey,
P.C. to furnish it a letter addressed to the Commission stating whether it
agrees with the above statements. A copy of the Malone & Bailey
letter is filed as Exhibit 16.1 to this Form 8-K/A. The decision to
change accountants was approved by the Board of Directors.
Freestone
Resources, Inc.’s new accountant, Turner, Stone & Company P.C., was engaged
on January 14, 2009, as Freestone Resources, Inc.'s principal accountant to
audit the financial statements of Freestone Resources, Inc. The
decision to change accountants was approved by the Audit Committee of the Board
of Directors and the full Board of Directors of Freestone Resources,
Inc.
During
the periods ending June 30, 2008 and June 30,2007, and the subsequent interim
period through Jan. 14, 2009, neither Freestone Resources, Inc. nor anyone on
its behalf consulted with Turner, Stone & Company P.C. regarding either the
application of accounting principles to a specified transaction, either
completed or proposed, or the type of audit opinion that might be rendered on
Freestone Resources, Inc.'s financial statements, nor has Turner, Stone &
Company P.C. provided to Freestone Resources, Inc. a written report or oral
advice regarding such principles or audit opinion or any matter that was the
subject of a disagreement or reportable events set forth in Item 304(a)(iv) and
(v), respectively, of Regulation S-K with Freestone Resources, Inc.'s former
accountant, Malone & Bailey, P.C.
Item
9.01. Financial Statements and Exhibits.
(c)
Exhibits:
| Exhibit
No. |
|
Description |
|
| |
|
|
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| 16.1 |
|
Letter
from Malone & Bailey, P.C. regarding change in certifying
accountant.
|
|
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.
| |
|
FREESTONE RESOURCES,
INC. |
|
| |
|
|
|
| January 27,
2009 |
By:
|
/s/ Mike
Doran |
|
| |
|
Mike
Doran
Chief Executive Officer
|
|