On January 6, 2016, the Audit Committee of the Board of Directors dismissed Liggett Vogt and Webb, P.A. (“Liggett”) as the Company’s independent registered public accounting firm, effective on January 6, 2016.
Liggett was retained on June 24, 2015 and therefore has not issued any reports on the financial statements of the Company. As such, there are no reports of Liggett and therefore there is not any adverse opinion or disclaimer of opinion nor was there any qualification or modification as to audit scope or accounting principles. However, we expect that such report would contain an explanatory paragraph disclosing the uncertainty regarding a substantial doubt about the Company’s ability to continue as a going concern given the Company’s lack of revenues, negative working capital and stockholders’ deficit, significant current and cumulative losses and negative operating cash flows.
During the most recent fiscal year ended February 28, 2015 and through January 6, 2016, the date of this 8-K, there were no disagreements with Liggett on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement if not resolved to Liggett satisfaction would have caused Liggett to make reference to the subject matter of the disagreement in their report on the Company’s consolidated financial statements. In addition, during the most recent fiscal year ended February 28, 2015 and through January 6, 2016, the date of this 8-K, there were no “reportable” events as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
The Company provided Liggett with a copy of the foregoing disclosure and requested Liggett to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made therein. A copy of such letter, dated January 8, 2016 furnished by Liggett, is filed as Exhibit 16.1 to this Current Report on Form 8-K.
(b) New Independent Registered Public Accounting Firm
On January 6, 2016, the Audit Committee of the Board of Directors approved the appointment of RBSM, LLP (“RBSM”) as the Company's independent registered public accounting firm.
During the two years ended February 28, 2015 and through the date of this 8-K, the Company did not consult with RBSM with respect to any of (i) the application of accounting principles to a specified transaction, either completed or proposed; (ii) the type of audit opinion that might be rendered on the Company's financial statements; or (iii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K) or an event of the type described in Item 304(a)(1)(v) of Regulation S-K.
-------------------------------------------------------------------
All posts are strictly my opinion and are not buy or sell recommendations.
Recent YBGJ News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 12:05:51 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/13/2024 08:08:04 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/20/2024 12:15:30 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 11:01:33 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM