Boreal Water Collection Inc. (fka BRWC)

[BeamMeUpScotty]

Some advice for us all to look out for in the filing when a company dismisses or changes accountants.

I've found this in the 8K of SOUM when they put out an 8K notifying the market of a change in accountants. See this paragraph from their 8K:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11770986

This action effectively dismisses Scrudato as the Company's independent auditor for the fiscal year ending December 31, 2016. The report of Scrudato on the Company's consolidated financial statements for the year ended December 31, 2015 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. For the years ended December 31, 2014 and 2015 and through the date of this Form 8-K, there have been no disagreements with Scrudato on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to Scrudato’s satisfaction would have caused them to make reference to the subject matter of the disagreement in connection with their reports. For the years ended December 31, 2014 and 2015 and through the date of this Form 8-K, there were no "reportable events" as that term is described in Item 304(a)(1)(v) of Regulation S-K.
The Company has provided Scrudato with a copy of this form 8-K and the Company has requested that Scrudato furnish a letter addressed to the Commission stating whether it agrees with the statements above.

You can see they're clearly saying there was no disagreement with their accountants on any accounting policy or practice at all.

We didn't ever see those statements in BRWC's filings, unfortunately. Now we know - that's when the alarm bells should start ringing!

Al that I'm saying folks is that if we don't see a statement like this in the 8K notifying the market of the change in accountants, and that there were no disagreements, we know there's something fishy going on in the company, in my view.

I will forever watch out for statements like that from now on when I see a change of accountants! I lost money here too and sold out at a loss but I'm lucky, I sold while the stock was still trading.

I wish everyone here the best, now and always.