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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): April 13, 2009</B>


<P style="font-size: 24pt" align="center"><B>CAPTERRA FINANCIAL GROUP,
INC.<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
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  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
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  <TD width="32%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Colorado</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>000-50764</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>20-0003432</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>1440 Blake Street, Suite 310,
Denver, Colorado <BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>80202</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(303) 893-1003</B>
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  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">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:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P style="font-size: 10pt" align="center"><B>FORM 8-K<BR>
CURRENT
REPORT<BR>
Pursuant to Section&nbsp;13 or 15(d)<BR>
of the Securities Act of
1934</B>

<P style="font-size: 10pt" align="left">References in this document to
&#8220;us,&#8221; &#8220;we,&#8221; or &#8220;the Company&#8221; refer to
CAPTERRA FINANCIAL GROUP, INC. and our subsidiaries.

<P style="font-size: 10pt" align="left"><U><B>Item&nbsp;4.02 Non-Reliance on
Previously Issued Financial Statements.</B></U>

<P style="font-size: 10pt" align="left">On April&nbsp;9, 2009, our Board of
Directors concluded that our financial statements for the fiscal year ended
December&nbsp;31, 2007 should no longer be relied upon because of an error in
such financial statements. Our audit committee discussed this matter with our
independent accounts in conjunction with our Board decision. This error also
affects our financial statements as of the interim periods for March&nbsp;31,
2008, June&nbsp;30, 2008, and September&nbsp;30, 2008. These financial
statements can no longer be relied upon. Notwithstanding the restatement, we
feel confident that our controls and procedures are adequate as of all relevant
reporting periods. The change in our financial statements was based upon a
judgment call using experience which we could not have known prior to the end
of 2008.

<P style="font-size: 10pt" align="left">Specifically, we had an error in
accounting for an allowance of our deferred tax asset. As of December&nbsp;31,
2007, we recorded a deferred tax asset with no allowance. Originally, we
determined that the weighted evidence presented did not support a conclusion to
record an allowance against our deferred tax asset. After reviewing the
evidence presented at that time and additional information gathered during the
2008 fiscal year, we decided that it would be a more conservative approach to
record a full deferred tax allowance for the fiscal year ended
December&nbsp;31, 2007. The recording of this full deferred tax allowance for
the fiscal year ended December&nbsp;31, 2007 will change the interim financial
statements for March&nbsp;31, 2008, June&nbsp;30, 2008, and September&nbsp;30,
2008.

<P style="font-size: 10pt" align="left">In addition, for the quarter ended
June&nbsp;30, 2008, we recognized a conversion expense for the conversion of
convertible preferred equity and subordinated debt into restricted common
shares and calculated the expense by applying a discount to market price of the
stock to account for the large block of restricted stock issued and low volume
with which our stock traded. When reviewing this methodology during our year
end, we were unable to substantiate our methodology with specific guidance
issued under GAAP. We therefore recalculated the conversion expense using the
price of the last trade prior to the conversion for the value of the stock. We
are including this more conservative expense amount in our financials for the
year ended December&nbsp;31, 2008 as well as our restated interim financial
statements for June&nbsp;30, 2008 and September&nbsp;30, 2008.

<P style="font-size: 10pt" align="left">We plan to file the restated financial
statements with our Form 10-K for the fiscal year ended December&nbsp;31, 2008
no later than April&nbsp;15, 2009.

<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt" align="left">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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 </TR>
 <TR style="font-size: 10pt" valign="bottom">
  <TD nowrap align="left">Date: April 13, 2009</TD>
  <TD>&nbsp;</TD>
  <TD colspan="3" nowrap align="left"><B>Capterra Financial Group, Inc.</B></TD>
 </TR>
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<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left"><BR>By: </TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left" style="border-bottom: 1px solid #000000"><BR>/s/ James W. Creamer, III</TD>
 </TR>
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">&nbsp;</DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">James W. Creamer, III <BR>Chief Executive
Officer</TD>
 </TR>
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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
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</HTML>
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{"company-data": {"conformed-name": "CAPTERRA FINANCIAL GROUP, INC.", "cik": "0001233275", "assigned-sic": "6500", "irs-number": "200003432", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50764", "film-number": "09747234"}, "business-address": {"street1": "1440 BLAKE STREET, SUITE 310", "city": "DENVER", "state": "CO", "zip": "80202", "phone": "303- 893-1003"}, "mail-address": {"street1": "1440 BLAKE STREET, SUITE 310", "city": "DENVER", "state": "CO", "zip": "80202"}, "former-company": [{"former-conformed-name": "ACROSS AMERICA REAL ESTATE CORP", "date-changed": "20050720"}, {"former-conformed-name": "ACROSS AMERICA REAL ESTATE DEVELOPMENT CORP", "date-changed": "20030515"}]}
8-K
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): April 13, 2009
CAPTERRA FINANCIAL GROUP,
INC.
(Exact name of registrant as
specified in its charter)
Colorado
000-50764
20-0003432
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1440 Blake Street, Suite 310,
Denver, Colorado
80202
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(303) 893-1003
(Former name or former address 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:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of the Securities Act of
1934
References in this document to
"us," "we," or "the Company" refer to
CAPTERRA FINANCIAL GROUP, INC. and our subsidiaries.
Item 4.02 Non-Reliance on
Previously Issued Financial Statements.
On April 9, 2009, our Board of
Directors concluded that our financial statements for the fiscal year ended
December 31, 2007 should no longer be relied upon because of an error in
such financial statements. Our audit committee discussed this matter with our
independent accounts in conjunction with our Board decision. This error also
affects our financial statements as of the interim periods for March 31,
2008, June 30, 2008, and September 30, 2008. These financial
statements can no longer be relied upon. Notwithstanding the restatement, we
feel confident that our controls and procedures are adequate as of all relevant
reporting periods. The change in our financial statements was based upon a
judgment call using experience which we could not have known prior to the end
of 2008.
Specifically, we had an error in
accounting for an allowance of our deferred tax asset. As of December 31,
2007, we recorded a deferred tax asset with no allowance. Originally, we
determined that the weighted evidence presented did not support a conclusion to
record an allowance against our deferred tax asset. After reviewing the
evidence presented at that time and additional information gathered during the
2008 fiscal year, we decided that it would be a more conservative approach to
record a full deferred tax allowance for the fiscal year ended
December 31, 2007. The recording of this full deferred tax allowance for
the fiscal year ended December 31, 2007 will change the interim financial
statements for March 31, 2008, June 30, 2008, and September 30,
2008.
In addition, for the quarter ended
June 30, 2008, we recognized a conversion expense for the conversion of
convertible preferred equity and subordinated debt into restricted common
shares and calculated the expense by applying a discount to market price of the
stock to account for the large block of restricted stock issued and low volume
with which our stock traded. When reviewing this methodology during our year
end, we were unable to substantiate our methodology with specific guidance
issued under GAAP. We therefore recalculated the conversion expense using the
price of the last trade prior to the conversion for the value of the stock. We
are including this more conservative expense amount in our financials for the
year ended December 31, 2008 as well as our restated interim financial
statements for June 30, 2008 and September 30, 2008.
We plan to file the restated financial
statements with our Form 10-K for the fiscal year ended December 31, 2008
no later than April 15, 2009.
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.
Date: April 13, 2009
Capterra Financial Group, Inc.
By:
/s/ James W. Creamer, III
James W. Creamer, III
Chief Executive
Officer