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): October 1, 2007
TRANS ENERGY, INC.
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(Exact name of registrant as specified in its charter)
NEVADA 0-23530 93-0997412
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
210 Second Street, P.O. Box 393, St. Mary's, West Virginia 26170
(Address of principal executive offices)
Registrant's telephone number, including area code: (304) 684-7053
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))
FORM 8-K
Section 4 - Matters Related to Accountants and Financial Statements
Item 4.01 Changes in Registrant's Certifying Accountant.
(a) On October 1, 2007, Malone & Bailey, PC was terminated as the
certifying accountant for Trans Energy, Inc. (the "Registrant").
Malone & Bailey, PC has served since September 8, 2006 as the certifying
accountant for the Registrant's financial statements. Its audit report to the
Registrant's financial statements for the year ended December 31, 2006, includes
a modification expressing substantial doubt as to the Registrant's ability to
continue as a going concern because it (i) has generated significant losses from
operations; (ii) recorded a significant accumulated deficit; and (iii) has a
working capital deficit. The audit report contains no other adverse opinion,
disclaimer of opinion or modification as to uncertainty, audit scope or
accounting principles.
During the period Malone & Bailey, PC was engaged by the Registrant, there
were no disagreements with Malone & Bailey, PC on any matter of accounting
principles or practices, financial statement disclosure, or auditing scope or
procedure, which, if not resolved to the satisfaction of Malone & Bailey, PC
would have caused Malone & Bailey, PC to make reference to the subject matter of
the disagreements in connection with any reports it would have issued. Also,
there were no "reportable events" as that term is defined in Item 304(a)(1)(iv)
of Regulation S-B.
The Registrant has provided Malone & Bailey, PC with a copy of the
foregoing disclosure, and has requested that Malone & Bailey, PC furnish it with
a letter addressed to the Securities and Exchange Commission stating whether or
not it agrees with such disclosure. The Registrant has filed as an Exhibit to
this Form 8-K a copy of the letter from Malone & Bailey, PC required by Item
304(a)(3) of Regulation S-B.
(b) On October 1, 2007, the Registrant entered into an engagement letter
with GBH CPAs, PC to assume the role of its new certifying accountant. GBH CPAs,
PC has been asked to audit the Registrant's financial statements for the year
ending December 31, 2007. During the two most recent fiscal years and the
subsequent interim periods prior to the engagement of GBH CPAs, PC, the
Registrant did not consult with GBH CPAs, PC with regard to:
(i) the application of accounting principles to a specified
transaction, either completed or proposed; or the type of audit
opinion that might be rendered on the Registrant's financial
statements; or
(ii) any matter that was either the subject of a disagreement or a
reportable event (as described in Item 304(a)(1)(iv) of Regulation
S-B).
The decision to change principal auditors and the engagement of the new
principal auditor was recommended and approved by the Registrant's Board of
Directors.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
16.1 Letter from Malone & Bailey, PC, dated October 2, 2007
regarding its concurrence or disagreement with the
statements made by the Registrant in the current report
concerning the resignation of Malone & Bailey, PC as the
Registrant's principal accountant.
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Notes about Forward-looking Statements
Statements contained in this current report that are not historical facts,
including all statements regarding the consummation of the acquisition of
assets, may be considered "forward-looking statements" under the Private
Securities Litigation Reform Act of 1995. Forward-looking statements are based
on current expectations and the current economic environment. Trans Energy
cautions the reader that such forward-looking statements are not guarantees of
future performance. Unknown risks and uncertainties as well as other
uncontrollable or unknown factors could cause actual results to materially
differ from the results, performance or expectations expressed or implied by
such forward-looking statements.
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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.
TRANS ENERGY, INC.
Date: October 2, 2007 By /S/ JAMES K. ABCOUWER
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James K. Abcouwer
President & CEO
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