Skystar Bio-pharmaceutical Co. (fka SKBI)

[236T568]

Looks, bad, real bad for scam company SKBI:

http://ih.advfn.com/p.php?pid=nmona&article=71027638


Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

In the March 31 Letter, Crowe notified the Company that it was recalling its Auditor Reports dated April 1, 2013 and March 31, 2014 and that such reports should no longer be associated with the financial statements for the fiscal years ended December 31, 2012 and 2013.

In its letter Crowe indicated that:

1. Crowe had to suspend audit fieldwork in December 2015 because the Company was unable to arrange visits with certain vendors, customers, logistics companies or with eth relevant State Tax Bureau; and

2. The Company did not provide Crowe with certain information requested by it, as specified in the letter attached hereto as Exhibit 7.1.




Crowe indicated that the foregoing caused Crowe to be unwilling to rely on management’s representations in connection with its audits of the consolidated financial statements and of the Company for December 31, 2014 and prior periods.

Neither the Audit Committee of the Board of Directors nor the officers of the Company discussed the matters disclosed in response to this Item 4.02 with Crowe.

The Company has provided Crowe with a copy of the foregoing disclosures and has requested that Crowe review such disclosures and provide a letter addressed to the SEC as specified by Item 4.02(c) of Form 8-K. When available, the Company will file as Exhibit 7.2 a copy of Crowe’s letter addressed to the SEC relating to the statements made by the Company in this Current Report on Form 8-K.