SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of 15(d) of the
Securities Exchange Act of 1934
March 10, 2008
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Date of Report (date of earliest event reported)
ALL-AMERICAN SPORTPARK, INC.
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Exact name of Registrant as Specified in its Charter
Nevada 0-024970 88-0203976
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State or Other Jurisdiction Commission File IRS Employer Identification
of Incorporation Number Number
6730 South Las Vegas Boulevard, Las Vegas, NV 89119
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Address of Principal Executive Offices, Including Zip Code
(702) 798-7777
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Registrant's Telephone Number, Including Area Code
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:
[ ] 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 March 10, 2008, the President and Principal Financial and Accounting
Officer of All-American SportPark, Inc. (the "Company") concluded that the
previously issued financial statements contained in the Company's Annual
Report on Form 10-KSB for the year ended December 31, 2006, and its Quarterly
Reports on Form 10-QSB for the quarters ended March 31, 2007; June 30, 2007
and September 30, 2007 should not be relied upon because of the accounting
errors contained therein. In particular the Company has determined that it
has not correctly account for its land lease in accordance with Statement of
Financial Accounting Standards No. 13 - Accounting for Leases ("SFAS 13").
SFAS 13 provides that operating leases with fixed rent escalations should be
recognized on a straight-line basis over the lease term. The Company's
President and Principal Financial and Accounting Officer made the
determination based on information provided by L.L. Bradford & Company, LLC,
the Company's independent registered public accounting firm, on March 10,
2008.
The Company does not have an audit committee. The Company discussed the
matters set forth herein with L.L. Bradford & Company, LLC, the Company's
independent registered public accounting firm.
The Company intends to file an amendment to its Annual Report on Form
10-KSB for the year ended December 31, 2006 and to its Quarterly Reports on
Form 10-QSB for the quarters ended March 31, 2007; June 30, 2007 and September
30, 2007, which will contain restated financial statements.
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.
ALL-AMERICAN SPORTPARK, INC.
Date: March 14, 2008 By: /s/ Ronald S. Boreta
Ronald S. Boreta, President