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PSMH > SEC Filings for PSMH > Form 8-K on 7-Nov-2012All Recent SEC Filings

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Other Events, Financial Statements and Exhibits

Item 8.01 Other Events.

On November 2, 2012, we issued a press release announcing the increase in production results for the year ended June 30, 2012.

In connection with the preparation of our audited consolidated financial statements for the year ended June 30, 2012, we discovered an error in calculating the weighted average number of shares outstanding for the year ended June 30, 2012 and the resulting loss per share for the year. The weighted average number of common shares outstanding - basic & diluted was reported as 30,379,898 and should have been reported as 25,258,343, and the net loss per common share and equivalents - basic and diluted loss from operations was reported as $0.11 and should have been reported as $0.13.

Management evaluated the calculation error under the Securities and Exchange Commission's authoritative guidance on materiality (Staff Accounting Bulletin No. 99) and determined that the errors and their impact, individually and in the aggregate, are immaterial.

Item 9.01 Financial Statements and Exhibits.

Exhibit No. 99.1 Press Release dated November 2, 2012

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