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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): June 16, 2006
Commission File Number: 000-24459
ACCESSTEL, INC.
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(Exact name of registrant)
Utah 59-2159271
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(State of incorporation) (I.R.S. Employer Identification No.)
66 Clinton Road, Fairfield, NJ 07004
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(Address of principal executive offices and zip code)
(973) 882-8861
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(Registrant's telephone number)
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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):
|_| Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d -2(b))
|_| 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 Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review.
On June 16, 2006, the Company's Board of Directors, after discussion with the
Company's independent auditors, authorized the restatement of our previously
issued (audited) consolidated financial statements for the year ending December
31, 2004, in our annual report on Form 10-KSB as filed with the Securities and
Exchange Commission on June 15, 2005. The restatement resulted in part from a
correction in the accounting for the reverse merger between the Company and
Global Invest Holdings, Inc., in part from a change in the accounting for
factored receivables, and in part from the inclusion of a statement of changes
in stockholders equity.
FOR THE EFFECT OF THE RESTATEMENT OF THE CONSOLIDATED FINANCIAL STATEMENTS OF
THE COMPANY FOR THE YEAR ENDED DECEMBER 31, 2004, PLEASE REFER TO THE AMENDMENT
TO OUR FORM 10-KSB FOR THE YEAR ENDED DECEMBER 31, 2004, TO BE FILED SHORTLY
AFTER THE FILING OF THIS REPORT.
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.
ACCESSTEL, INC.
Dated: June 16, 2006 By: /s/ Ralph Sayad
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Ralph Sayad
Chief Executive Officer