Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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) - July
20, 2007
TELECOM
COMMUNICATIONS, INC.
(Exact
name of Registrant as Specified in Charter)
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Delaware
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333-62236
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35-2089848
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(State
or Other Jurisdiction
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(Commission
File Number)
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(IRS
Employer
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of
Incorporation)
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Identification
No.)
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9/F.,
Beijing Business World,
56
Dongxinglong Avenue, CW District, Beijing, China 100062
(Address
of Principal Executive Offices) (Zip Code)
Registrant’s
telephone number, including area code - (86) 10 6702 6968
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):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit
Report or Completed Interim Review.
The
CEO
of Telecom Communications, Inc. (the “Company”), after receiving emailed
confirmation from the Securities Exchange Commission (the “Commission”) on July
17, 2007 that the Commission had no further comments to the Company’s Forms
10-QSB and 10-KSB, decided to proceed with the amendment of the Company’s
financial statements contained in the Company’s Form 10-KSB/A for the fiscal
year ended September 30, 2006, its Form 10-QSB/A for the quarters ended December
31, 2005 and March 31, 2006 and its Form 10-QSB for the quarter ended June
30,
2006 to address various accounting issues raised by the Commission in its
comment letters. The amendments will include revising the financial statements
to reflect a recalculation of the acquisition cost of Subaye.com, recalculation
of minority interests, reclassification of certain deferred stock-based
compensation and a statement that the Company’s disclosure controls and
procedures were not effective at the relevant times.
Accordingly,
the CEO has determined that the financial statements included in the annual
and
quarterly reports stated above should no longer be relied upon.
The
CEO
of the Company discussed his conclusions with the Company’s independent
registered accounting firm, Child, Van Wagoner & Bradshaw,
PLLC.
SIGNATURES
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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TELECOM
COMMUNICATIONS, INC.
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Dated:
July 20, 2007
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By:
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/s/ Alan
Lun
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Alan
Lun
Chief
Executive Officer
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