Hollywall Entertainment Inc (HWAL)

[Kool Aid Man]

"Not relevant?" HWAL published a PR today. In it they announced they were re-hiring an accounting firm. I posted proof that the SEC determined this firm had been found complicit in assisting a complex pump-and-dump fraud by "CONDUCTING MATERIALLY DEFICIENT AUDITS." The SEC reported “The audits that these firms conducted were so deficient that they amounted to no audits at all" and that "M&K partners also ignored red flags with respect to the issuers.”

In September 2015 the SEC reported

"M&K CPAS PLLC consented to an order censuring it and requiring it to refrain from accepting new public audit clients for 12 months or until an independent consultant certifies that the firm has completed the undertakings specified in the order, whichever is later. The firm also agreed to pay more than $103,000 in disgorgement, prejudgment interest, and penalties. Matt Manis and [M&K's] Jon Ridenour agreed to be permanently barred from appearing and practicing before the Commission as accountants and to pay a penalty of $20,000 and $15,000, respectively.

“The sanctions against these auditors reflect the gravity of the misconduct and betrayal of the trust placed in them by the investing public to serve as gatekeepers in protecting the integrity of our markets,”
https://www.sec.gov/news/pressrelease/2015-196.html

https://www.sec.gov/litigation/admin/2015/33-9918.pdf
# # #

One of the deficits cited by the SEC was M&K's failure to "“background checks on all significant owners and chief executives” and failure to "sufficiently question or otherwise investigate the Issuers’ management."

Sounds relevant to me.

PS: M&K audited Hollywall (fka NATIONAL INTELLIGENCE ASSOCIATION INC.) in 2009
http://getfilings.com/sec-filings/100409/NATIONAL-INTELLIGENCE-ASSOCIATION-INC_S-1.A/