FULO · OTC
This filer is no longer a domestic reporting company, so the score does not apply to it now. Its history is below.
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The Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the “Form 10-Q”) of FullNet Communications, Inc. (the “Company”) could not be filed within the prescribed time period without unreasonable effort or expense for the reasons set forth below: On May 3, 2024, the Securities and Exchange Commission (the “Commission”) entered an order instituting settled administrative and cease-and-desist proceedings against Borgers and its sole audit partner, Benjamin F. Borgers CPA, permanently barring Mr. Borgers and Borgers (collectively, “BF Borgers”) from appearing or practicing before the Commission as an accountant (the “Order”). As a result of the Order, BF Borgers may no longer serve as the Company’s independent registered public accounting firm, nor can BF Borgers issue any audit reports included in Commission filings, provide consents with respect to audit reports, or review quarterly financial statements filed with the Commission. As previously reported in the Company’s Current Report on Form 8-K filed with the Commission on May 7, 2024, BF Borgers was dismissed as the Company’s independent registered public accounting firm on May 6, 2024. As a result of the Order, the Company’s financial statements for the years ending December 31, 2023 and December 31, 2022, which were audited by BF Borgers, and the Company’s interim financial statements for the quarters ending March 31, 2023, June 30, 2023 and September 30, 2023, which were reviewed by BF Borgers, may no longer be incorporated into the Company’s filings with the Commission, including without limitation its Form 10-Q. 2 The Company is in conversation with several audit firms as part of the process of engaging a new independent auditing firm. When a new independent auditing firm is formally chosen, the Company will file a Form 8-K disclosing such appointment
NT 10-Q, filed 2024-05-15 · auditor
The Quarterly Report on Form 10-Q for the period ended March 31, 2024 (the “Form 10-Q”) of FullNet Communications, Inc. (the “Company”) could not be filed within the prescribed time period without unreasonable effort or expense for the reasons set forth below: On May 3, 2024, the Securities and Exchange Commission (the “Commission”) entered an order instituting settled administrative and cease-and-desist proceedings against Borgers and its sole audit partner, Benjamin F. Borgers CPA, permanently barring Mr. Borgers and Borgers (collectively, “BF Borgers”) from appearing or practicing before the Commission as an accountant (the “Order”). As a result of the Order, BF Borgers may no longer serve as the Company’s independent registered public accounting firm, nor can BF Borgers issue any audit reports included in Commission filings, provide consents with respect to audit reports, or review quarterly financial statements filed with the Commission. As previously reported in the Company’s Current Report on Form 8-K filed with the Commission on May 7, 2024, BF Borgers was dismissed as the Company’s independent registered public accounting firm on May 6, 2024. As a result of the Order, the Company’s financial statements for the years ending December 31, 2023 and December 31, 2022, which were audited by BF Borgers, and the Company’s interim financial statements for the quarters ending March 31, 2023, June 30, 2023 and September 30, 2023, which were reviewed by BF Borgers, may no longer be incorporated into the Company’s filings with the Commission, including without limitation its Form 10-Q. 2 The Company is in conversation with several audit firms as part of the process of engaging a new independent auditing firm. When a new independent auditing firm is formally chosen, the Company will file a Form 8-K disclosing such appointment
2024-05-07auditor changed or resigned SEC →
2021-12-21auditor changed or resigned SEC →
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
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Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
investment advice