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 24, 2010
Greatmat
Technology Corporation
(Exact
name of registrant as specified in its charter)
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Nevada
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000-53481
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68-0681042
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(State
or other jurisdiction of incorporation or organization)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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Room
2102-03, 21/F, Kingsfield Centre
18-20
Shell Street, North Point, Hong Kong
(Address
of principal executive offices)
Telephone
– 852-2891-2111
Aurum
Explorations, Inc.
(Former
Name, 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 (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))
Item
4.02. Non-Reliance on Previously Issued Financial Statements or a
Related Audit Report or Completed Interim Review.
On
December 24, 2010, and as a result of the preparation of the responses to
comments Greatmat Technology Corporation (formerly Aurum Explorations, Inc.)
(the “Company”) received from the Securities and Exchange Commission (the “SEC”)
in connection with the SEC’s review of the Company’s Form 8-K filed on November
3, 2010 (the “Form 8-K”), the Company’s Board of Directors determined that the
unaudited consolidated financial statements of its recently acquired subsidiary
Greatmat Holdings Limited and subsidiaries for the six months ended June 30,
2010 and the related pro forma financial information of the Company as of and
for the six months ended June 30, 2010, each contained in the Form 8-K, should
no longer be relied upon as a result of certain errors contained
therein.
The
Company is preparing an amended report for the Form 8-K, including restated
financial statements, and will file that amended report with the SEC as soon as
practicable when it is completed. The errors which will be corrected
in the restated financial statements mainly reflect the fact that during the
second quarter of 2010 the amount of certain bank loans and certain costs of
sales were mistakenly understated by $394,869 owing to the off-set effect from
the procurement by cash and accounts receivable and the omission of a bank loan
recorded in the ledger. The Company will restate the balance sheet, statements
of income, shareholders’ equity and cash flow for the period ended June 30, 2010
to reflect the corrected figures. The relevant restatements will also
be reflected in the Company’s restated pro forma financial statements for this
period.
The
Company’s board of directors has discussed the forgoing matters with the
Company’s Chief Financial Officer and its independent registered public
accounting firm.
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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Date:
December 27, 2010
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Greatmat Technology
Corporation
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(Registrant)
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/s/ Chris Yun Sang SO
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*Signature
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Chief Executive Officer
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Title
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