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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>UNITED STATES</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Washington, D.C. 20549</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>FORM 8-K</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>CURRENT REPORT</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>June 20, 2008 (June 2, 2008)</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Date of Report (Date of earliest event reported)</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>TERRA NOSTRA RESOURCES CORP.</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Exact name of registrant as specified in its charter)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<TABLE cellspacing=0><TR><TD style="border:1 solid #000000" valign=top width=216><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Nevada</B></P>
</TD><TD style="border-top:1 solid #000000; border-right:1 solid #000000; border-bottom:1 solid #000000" valign=top width=210><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>000-49631</B></P>
</TD><TD style="border-top:1 solid #000000; border-right:1 solid #000000; border-bottom:1 solid #000000" valign=top width=198><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>86-0875500</B></P>
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<TR><TD style="border-left:1 solid #000000; border-right:1 solid #000000; border-bottom:1 solid #000000" valign=top width=216><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(State or other jurisdiction</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>of incorporation)</P>
</TD><TD style="border-right:1 solid #000000; border-bottom:1 solid #000000" valign=top width=210><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Commission File No.)</P>
</TD><TD style="border-right:1 solid #000000; border-bottom:1 solid #000000" valign=top width=198><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(IRS Employer</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Identification No.)</P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>790 East Colorado Blvd., 9<SUP>th</SUP> Floor</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Pasadena, CA 91101</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>(Address of principal executive offices, including zip code)</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Registrant's telephone number, including area code: <B>(626) 796-0088</B></P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>&#9633;</P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><I></I>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
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<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>&#9633;</P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><I></I>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>
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<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>&#9633;</P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><I></I>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
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<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><I>&#9633;</I></P>
<P style="margin:0pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><I></I>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
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<P style="page-break-before:always; margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Item 4.01</B></P>
<P style="margin:0pt; text-indent:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B>Changes in Registrant&#8217;s Certifying Accountant</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B><I><U>Resignation of Rotenberg &amp; Co., LLP as independent accountants for the Company.</U></I></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>As used in this report, the terms &quot;we&quot;, &quot;us&quot;, &quot;our&quot;, &quot;our company&quot; or &quot;Terra Nostra&quot; refer to Terra Nostra Resources Corp., a Nevada corporation.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Rotenberg &amp; Co., LLP have declined to stand for re-appointment as the Registrant's independent accountants.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>On June 2, 2008, Rotenberg &amp; Co., LLP declined to stand for re-appointment as the independent registered public accounting firm responsible for auditing the Company's financial statements.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Rotenberg &amp; Co., LLP's report on the Company's financial statements for the two fiscal years ended May 31, 2007, and 2006, did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Rotenberg &amp; Co., LLP declining to stand for re-appointment as the independent registered public accounting firm, which was effective as of June 2, 2008, was acknowledged by the Company's Board of Directors.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>During the Company's two most recent fiscal years ended May 31, 2007 and 2006 and until June 2, 2008, which preceded Rotenberg &amp; Co., LLP declining to stand for re-appointment, the Company did not have any disagreements with Rotenberg &amp; Co., LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Rotenberg &amp; Co., LLP, would have caused it to make reference to the subject matter of the disagreements in connection with its report. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>During the Company's two most recent fiscal years ended May 31, 2007, and 2006 and until June 2, 2008, which preceded Rotenberg &amp; Co., LLP declining to stand for re-appointment, other than as is set forth herein, Rotenberg &amp; Co., LLP did not advise the Company of any of the following: </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:36pt; text-indent:-36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(A)</P>
<P style="margin:0pt; padding-left:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>That the internal controls necessary for the Company to develop reliable financial statements did not exist; </P>
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<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:36pt; text-indent:-36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(B)</P>
<P style="margin:0pt; padding-left:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>That information had come to Rotenberg &amp; Co. LLP's attention that had led it to no longer be able to rely on management's representations, or that had made it unwilling to be associated with the financial statements prepared by management; </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:72pt; text-indent:-72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(C)</P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:72pt; text-indent:-36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(1)</P>
<P style="margin:0pt; padding-left:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>that Rotenberg &amp; Co., LLP needed to expand significantly the scope of its audit, or that information had come to Rotenberg &amp; Co., LLP's attention that if further investigated may: &nbsp;(i) materially impact the fairness or reliability of either: a previously issued audit report or the underlying financial statements; or the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent financial statements covered by an audit report (including information that would have prevented it from rendering an unqualified audit report on those financial statements), or (ii) cause it to be unwilling to rely on management's representations or be associated with the Company's financial statements, and</P>
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<P style="margin:0pt; font-family:Times New Roman" align=center>2</P>
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<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(2)</P>
<P style="margin:0pt; padding-left:72pt; text-indent:36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>due to Rotenberg &amp; Co., LLP's declining to stand for re-appointment, or for any other reason, the accountant did not so expand the scope of its audit or conduct such further investigation; or </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:72pt; text-indent:-72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(D)</P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:72pt; text-indent:-36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(1)</P>
<P style="margin:0pt; padding-left:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>that information has come to Rotenberg &amp; Co., LLP's attention that it had concluded materially impacted the fairness or reliability of either: (i) a previously issued audit report or the underlying financial statements, or (ii) the financial statements issued or to be issued covering the fiscal period subsequent to the date of the most recent financial statements covered by an audit report (including information that, unless resolved to Rotenberg &amp; Co., LLP's satisfaction, would prevent it from rendering an unqualified audit report on those financial statements, except as indicated above), and </P>
<P style="margin:0pt; padding-left:72pt; text-indent:-72pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-13pt; padding-left:72pt; text-indent:-36pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>(2)</P>
<P style="margin:0pt; padding-left:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>the issue has not been resolved to Rotenberg &amp; Co., LLP's satisfaction prior to its declining to stand for re-appointment. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify><B><I><U>Engagement of Schwartz Levitsky Feldman LLP </U></I></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>On June 19, 2008, the Company appointed the firm Schwartz Levitsky Feldman LLP in Toronto, Canada, who has been acting as a sub-contractor to Rotenberg &amp; Co. LLP, as the independent registered public accounting firm responsible for auditing the Company's financial statements.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>The Company has engaged Schwartz Levitsky Feldman LLP to serve as the independent registered public accounting firm responsible for auditing the Company's financial statements. &nbsp;The engagement was approved by the Company's Board of Directors. </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>Neither the Company nor anyone on behalf of the Company consulted Schwartz Levitsky Feldman LLP, except in their capacity as a sub-contractor to Rotenberg &amp; Co. LLP, during the two most recent fiscal years and any subsequent interim period prior to engaging Schwartz Levitsky Feldman LLP, regarding either: (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 Company's financial statements; or (ii) any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) and the related instructions of Item 304 of Regulation S-K) or reportable event (as described in paragraph (a)(1)(v) of Item 304 of Regulation S-K). </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=justify><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>The Company provided Rotenberg &amp; Co., LLP with a copy of the disclosures set forth in this Current Report on Form 8-K, and requested that Rotenberg &amp; Co., LLP furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Company herein. &nbsp;The letter received by the Company from Rotenberg &amp; Co., LLP, in which Rotenberg &amp; Co., LLP states that it is in agreement with the disclosures set forth herein, is attached hereto as Exhibit 16.1.</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Item 9.01</B></P>
<P style="margin:0pt; text-indent:72pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Financial Statements and Exhibits</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>(d) Exhibits</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Copies of the following documents are included as exhibits to this current report pursuant to Item 601 of Regulation S-K:</P>
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<P style="margin:0pt; font-family:Times New Roman" align=center>3</P>
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<TABLE cellspacing=0><TR><TD valign=top width=120><P style="margin-top:4.6pt; margin-bottom:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Exhibit</B></P>
<P style="margin-top:0pt; margin-bottom:2.75pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Number</B></P>
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</TD><TD valign=top width=156>&nbsp;</TD></TR>
<TR><TD valign=top width=120><P style="margin-top:2.75pt; margin-bottom:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">16.1</P>
</TD><TD valign=top width=360><P style="margin-top:2.75pt; margin-bottom:2.75pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Letter from Rotenberg &amp; Co. LLP dated June 18, 2008 regarding change in certifying accountant </P>
</TD><TD valign=top width=156><P style="margin-top:2.75pt; margin-bottom:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Filed herewith</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SIGNATURES</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=justify>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.</P>
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<TABLE cellspacing=0><TR><TD valign=top width=343.2>&nbsp;</TD><TD valign=top width=294><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>TERRA NOSTRA RESOURCES CORP.</B></P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">June 20, 2008</P>
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<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">By: <U>/s/ Sun Liu James Po</U></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Sun Liu James Po</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Chief Executive Officer</P>
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{"company-data": {"conformed-name": "TERRA NOSTRA RESOURCES CORP.", "cik": "0001167370", "assigned-sic": "3330", "irs-number": "860875500", "state-of-incorporation": "NV", "fiscal-year-end": "0531"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-49631", "film-number": "08910616"}, "business-address": {"street1": "790 E. COLORADO, 9TH FLOOR", "city": "PASADENA", "state": "CA", "zip": "91101", "phone": "626-796-0088"}, "mail-address": {"street1": "790 E. COLORADO, 9TH FLOOR", "city": "PASADENA", "state": "CA", "zip": "91101"}, "former-company": [{"former-conformed-name": "TERRA NOSTRA TECHNOLOGY LTD", "date-changed": "20030425"}, {"former-conformed-name": "TERRA NOSTRA RESOURCES LTD", "date-changed": "20020213"}]}
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
June 20, 2008 (June 2, 2008)
Date of Report (Date of earliest event reported)
TERRA NOSTRA RESOURCES CORP.
(Exact name of registrant as specified in its charter)
Nevada
000-49631
86-0875500
(State or other jurisdiction
of incorporation)
(Commission File No.)
(IRS Employer
Identification No.)
790 East Colorado Blvd., 9
th
Floor
Pasadena, CA 91101
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code:
(626) 796-0088
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 4.01
Changes in Registrant's Certifying Accountant
Resignation of Rotenberg & Co., LLP as independent accountants for the Company.
As used in this report, the terms "we", "us", "our", "our company" or "Terra Nostra" refer to Terra Nostra Resources Corp., a Nevada corporation.
Rotenberg & Co., LLP have declined to stand for re-appointment as the Registrant's independent accountants.
On June 2, 2008, Rotenberg & Co., LLP declined to stand for re-appointment as the independent registered public accounting firm responsible for auditing the Company's financial statements.
Rotenberg & Co., LLP's report on the Company's financial statements for the two fiscal years ended May 31, 2007, and 2006, did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles.
Rotenberg & Co., LLP declining to stand for re-appointment as the independent registered public accounting firm, which was effective as of June 2, 2008, was acknowledged by the Company's Board of Directors.
During the Company's two most recent fiscal years ended May 31, 2007 and 2006 and until June 2, 2008, which preceded Rotenberg & Co., LLP declining to stand for re-appointment, the Company did not have any disagreements with Rotenberg & Co., LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Rotenberg & Co., LLP, would have caused it to make reference to the subject matter of the disagreements in connection with its report.
During the Company's two most recent fiscal years ended May 31, 2007, and 2006 and until June 2, 2008, which preceded Rotenberg & Co., LLP declining to stand for re-appointment, other than as is set forth herein, Rotenberg & Co., LLP did not advise the Company of any of the following:
(A)
That the internal controls necessary for the Company to develop reliable financial statements did not exist;
(B)
That information had come to Rotenberg & Co. LLP's attention that had led it to no longer be able to rely on management's representations, or that had made it unwilling to be associated with the financial statements prepared by management;
(C)
(1)
that Rotenberg & Co., LLP needed to expand significantly the scope of its audit, or that information had come to Rotenberg & Co., LLP's attention that if further investigated may:  (i) materially impact the fairness or reliability of either: a previously issued audit report or the underlying financial statements; or the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent financial statements covered by an audit report (including information that would have prevented it from rendering an unqualified audit report on those financial statements), or (ii) cause it to be unwilling to rely on management's representations or be associated with the Company's financial statements, and
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(2)
due to Rotenberg & Co., LLP's declining to stand for re-appointment, or for any other reason, the accountant did not so expand the scope of its audit or conduct such further investigation; or
(D)
(1)
that information has come to Rotenberg & Co., LLP's attention that it had concluded materially impacted the fairness or reliability of either: (i) a previously issued audit report or the underlying financial statements, or (ii) the financial statements issued or to be issued covering the fiscal period subsequent to the date of the most recent financial statements covered by an audit report (including information that, unless resolved to Rotenberg & Co., LLP's satisfaction, would prevent it from rendering an unqualified audit report on those financial statements, except as indicated above), and
(2)
the issue has not been resolved to Rotenberg & Co., LLP's satisfaction prior to its declining to stand for re-appointment.
Engagement of Schwartz Levitsky Feldman LLP
On June 19, 2008, the Company appointed the firm Schwartz Levitsky Feldman LLP in Toronto, Canada, who has been acting as a sub-contractor to Rotenberg & Co. LLP, as the independent registered public accounting firm responsible for auditing the Company's financial statements.
The Company has engaged Schwartz Levitsky Feldman LLP to serve as the independent registered public accounting firm responsible for auditing the Company's financial statements.  The engagement was approved by the Company's Board of Directors.
Neither the Company nor anyone on behalf of the Company consulted Schwartz Levitsky Feldman LLP, except in their capacity as a sub-contractor to Rotenberg & Co. LLP, during the two most recent fiscal years and any subsequent interim period prior to engaging Schwartz Levitsky Feldman LLP, regarding either: (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 Company's financial statements; or (ii) any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) and the related instructions of Item 304 of Regulation S-K) or reportable event (as described in paragraph (a)(1)(v) of Item 304 of Regulation S-K).
The Company provided Rotenberg & Co., LLP with a copy of the disclosures set forth in this Current Report on Form 8-K, and requested that Rotenberg & Co., LLP furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Company herein.  The letter received by the Company from Rotenberg & Co., LLP, in which Rotenberg & Co., LLP states that it is in agreement with the disclosures set forth herein, is attached hereto as Exhibit 16.1.
Item 9.01
Financial Statements and Exhibits
(d) Exhibits
Copies of the following documents are included as exhibits to this current report pursuant to Item 601 of Regulation S-K:
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Exhibit
Number
Description
16.1
Letter from Rotenberg & Co. LLP dated June 18, 2008 regarding change in certifying accountant
Filed herewith
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.
TERRA NOSTRA RESOURCES CORP.
June 20, 2008
By:
/s/ Sun Liu James Po
Sun Liu James Po
Chief Executive Officer
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