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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">SECURITIES
AND EXCHANGE COMMISSION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Washington,
D.C. 20549</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">FORM&#160;8-K</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">CURRENT
REPORT</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Section&#160;13 or 15(d)&#160;of the</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Securities
Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Date
of Report (date of earliest event reported): February 15, 2008</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman">SARS
CORPORATION</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;(Exact
name of registrant as specified in its charter)</font></div>
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      or other jurisdiction</font></div>
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      incorporation)</font></div>
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      File Number)</font></div>
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      Employer</font></div>
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      Number)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">19119
North Creek Parkway, Suite 201</font></div>
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WA 98011</font></div>
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of principal executive offices)</font></div>
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telephone number, including area code: 866-276-7277</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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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:</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
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material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></div>
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communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></div><br>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
4.02(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Non-Reliance
on Previously Issued Financial Statements or a Related Audit Report or Completed
Interim Review.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
February 15, 2008, management of SARS Corporation (the &#8220;Company&#8221;),
after&#160;discussion with its independent registered public accounting firm,
decided to restate its previously filed consolidated financial statements for
the correction of errors. The Company&#8217;s management, who participated in the
discussion, includes those officers and directors who are responsible for the
adequacy and accuracy of disclosures in the Company&#8217;s filings. Consolidated
financial statements as of (i) September 30, 2006 and December 31, 2005 and for
the fiscal years then ended included as Exhibit 99.1 in the Company&#8217;s Current
Report on Form 8-K date of report August 28, 2007, (ii) June 30, 2007 and 2006
and for the nine months then ended included as Exhibit 99.3 in the
Company&#8217;s&#160;&#160;Current Report on Form 8-K/A date of report August 28,
2007, and (iii) September 30, 2007 and 2006 and for the fiscal years then ended
included in the Company&#8217;s Annual Report on Form 10-KSB for the year ended
September 30, 2007 (collectively, the &#8220;Original Financial Statements&#8221; and
&#8220;Original Reports&#8221;) have been restated. As a result, such Original Financial
Statements included within the Original Reports should no longer be relied
upon.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
restatements&#160;were required to correct errors relating to&#160;recording
amounts due for services pursuant to a March 2004 agreement, which previously
were not recorded.&#160;&#160;Company management believes that the errors, both
of which relate to the same agreement, were inadvertent and
unintentional.&#160;&#160;Subsequent to the filing of the Original Reports and
issuance of the Original Financial Statements, the Company determined that
shares of its common stock were, upon execution of a March 2004 engagement
agreement, due to a related party for deferral of payment of legal fees, and
that fees were due to this firm in connection with the Company&#8217;s fund raising
activities, specifically with respect to its February 2007 private placement
offering of equity securities during the year ended September 30, 2007. The
effect of restatements as of June 30, 2007 and September 30, 2007 is that
liabilities, amounts due related parties, increased by $242,000 and $347,000,
respectively,&#160;and additional paid-in capital decreased by $242,000 and
$347,000, respectively,&#160;to record stock issue costs.&#160; <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Other
than&#160;restatements to the Company's loss per share, which resulted
from&#160;restatements to the number of shares outstanding for the restated
periods, t</font>here was no effect on the Company&#8217;s results of operations or
cash flows included in the Original Financial Statements.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
restated consolidated financial statements as of &#160;(i) September 30, 2006
and December 31, 2005 and for the fiscal years then ended and (ii) June 30, 2007
and 2006 and for the nine months then ended are included as Exhibit 99.1 and
Exhibit 99.3, respectively, in the Company&#8217;s Current Report on Form 8-K/A date
of report August 28, 2007, filed February 19, 2008, and (iii) September 30, 2007
and 2006 and for the fiscal years then ended are included in the Company&#8217;s
September 30, 2007 Annual Report on Form 10-KSB/A, filed February 19,
2008.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
addition, <font style="FONT-WEIGHT: normal"><font style="DISPLAY: inline; FONT-WEIGHT: normal">Item 8A.&#160;&#160;Controls and
Procedures</font> </font>paragraph (a) Evaluation of Disclosure Controls and
Procedures included in the Original Filing of&#160;&#160;Form 10-KSB has been
revised to disclose that upon becoming aware of the existence of an agreement
pursuant to which amounts were owed and which had not been previously recorded
or disclosed, management determined that its controls over assuring that all
material agreements, obligations and commitments have been disclosed to
personnel responsible for preparation of financial statements were
ineffective.&#160;&#160;Upon identification of this material weakness, the
Company initiated a review of its internal controls and processes with respect
to whether all existing material agreements and obligations have been
identified, monitored and reported, and to determine what changes, if any, are
required to prevent recurrence of this type of error.&#160;Management has
revised its earlier assessment and has now concluded that the Company&#8217;s
disclosure controls over financial reporting were not effective as of
September&#160;30, 2007.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As for
the material weakness identified, management has implemented the following
remedial actions:</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div>
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              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Obtaining
      representations in writing from directors and officers regarding full
      disclosure of agreements, and</font></div>
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      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div>
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                <div><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Symbol, serif">&#183;&#160;&#160;</font></div>
              </td>
              <td>
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Initiated
      process of forming a financial reporting disclosure committee and
      processes.</font></div>
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      </div><br><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
9.01 Financial Statements and Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Please
see the exhibit index following the signature page.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 thereunto
duly authorized.</font></div>
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            <td align="left" valign="top" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="4%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" valign="top" width="36%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
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            <td align="left" valign="top" width="38%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Date:
      February 19, 2008</font></div>
            </td>
            <td align="left" colspan="2" valign="top" width="40%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">SARS
      Corporation</font></div>
            </td>
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          <tr>
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{"company-data": {"conformed-name": "SARS CORP.", "cik": "0001070510", "assigned-sic": "6770", "irs-number": "330677545", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-29836", "film-number": "08625659"}, "business-address": {"street1": "601 108TH AVE NE STE 1908", "city": "BELLEVUE", "state": "WA", "zip": "98004", "phone": "425-943-6140"}, "mail-address": {"street1": "601 108TH AVE NE STE 1908", "city": "BELLEVUE", "state": "WA", "zip": "98004"}, "former-company": [{"former-conformed-name": "MYCOM GROUP INC /NV/", "date-changed": "20000908"}, {"former-conformed-name": "BAD TOYS INC", "date-changed": "19990222"}]}
form8k.htm
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): February 15, 2008
SARS
CORPORATION
(Exact
name of registrant as specified in its charter)
Nevada
000-51046
33-0677545
(State
      or other jurisdiction
of
      incorporation)
(Commission
      File Number)
(IRS
      Employer
I.D.
      Number)
19119
North Creek Parkway, Suite 201
Bothell,
WA 98011
(Address
of principal executive offices)
Registrant's
telephone number, including area code: 866-276-7277
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(a)                                Non-Reliance
on Previously Issued Financial Statements or a Related Audit Report or Completed
Interim Review.
On
February 15, 2008, management of SARS Corporation (the "Company"),
after discussion with its independent registered public accounting firm,
decided to restate its previously filed consolidated financial statements for
the correction of errors. The Company's management, who participated in the
discussion, includes those officers and directors who are responsible for the
adequacy and accuracy of disclosures in the Company's filings. Consolidated
financial statements as of (i) September 30, 2006 and December 31, 2005 and for
the fiscal years then ended included as Exhibit 99.1 in the Company's Current
Report on Form 8-K date of report August 28, 2007, (ii) June 30, 2007 and 2006
and for the nine months then ended included as Exhibit 99.3 in the
Company's  Current Report on Form 8-K/A date of report August 28,
2007, and (iii) September 30, 2007 and 2006 and for the fiscal years then ended
included in the Company's Annual Report on Form 10-KSB for the year ended
September 30, 2007 (collectively, the "Original Financial Statements" and
"Original Reports") have been restated. As a result, such Original Financial
Statements included within the Original Reports should no longer be relied
upon.
The
restatements were required to correct errors relating to recording
amounts due for services pursuant to a March 2004 agreement, which previously
were not recorded.  Company management believes that the errors, both
of which relate to the same agreement, were inadvertent and
unintentional.  Subsequent to the filing of the Original Reports and
issuance of the Original Financial Statements, the Company determined that
shares of its common stock were, upon execution of a March 2004 engagement
agreement, due to a related party for deferral of payment of legal fees, and
that fees were due to this firm in connection with the Company's fund raising
activities, specifically with respect to its February 2007 private placement
offering of equity securities during the year ended September 30, 2007. The
effect of restatements as of June 30, 2007 and September 30, 2007 is that
liabilities, amounts due related parties, increased by $242,000 and $347,000,
respectively, and additional paid-in capital decreased by $242,000 and
$347,000, respectively, to record stock issue costs.
Other
than restatements to the Company's loss per share, which resulted
from restatements to the number of shares outstanding for the restated
periods, t
here was no effect on the Company's results of operations or
cash flows included in the Original Financial Statements.
The
restated consolidated financial statements as of  (i) September 30, 2006
and December 31, 2005 and for the fiscal years then ended and (ii) June 30, 2007
and 2006 and for the nine months then ended are included as Exhibit 99.1 and
Exhibit 99.3, respectively, in the Company's Current Report on Form 8-K/A date
of report August 28, 2007, filed February 19, 2008, and (iii) September 30, 2007
and 2006 and for the fiscal years then ended are included in the Company's
September 30, 2007 Annual Report on Form 10-KSB/A, filed February 19,
2008.
In
addition,
Item 8A.  Controls and
Procedures
paragraph (a) Evaluation of Disclosure Controls and
Procedures included in the Original Filing of  Form 10-KSB has been
revised to disclose that upon becoming aware of the existence of an agreement
pursuant to which amounts were owed and which had not been previously recorded
or disclosed, management determined that its controls over assuring that all
material agreements, obligations and commitments have been disclosed to
personnel responsible for preparation of financial statements were
ineffective.  Upon identification of this material weakness, the
Company initiated a review of its internal controls and processes with respect
to whether all existing material agreements and obligations have been
identified, monitored and reported, and to determine what changes, if any, are
required to prevent recurrence of this type of error. Management has
revised its earlier assessment and has now concluded that the Company's
disclosure controls over financial reporting were not effective as of
September 30, 2007.
As for
the material weakness identified, management has implemented the following
remedial actions:
·
Obtaining
      representations in writing from directors and officers regarding full
      disclosure of agreements, and
·
Initiated
      process of forming a financial reporting disclosure committee and
      processes.
Item
9.01 Financial Statements and Exhibits
Please
see the exhibit index following the signature page.
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 thereunto
duly authorized.
Date:
      February 19, 2008
SARS
      Corporation
By:
/s/ Clayton Shelver
Clayton
      Shelver
Director
      and Chief Executive Officer