NGH hired Assurance Dimensions as external auditors in June. The recent 10-K bears the audit certification of Assurance Dimensions.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Shareholder’s and Board of Directors Next Group Holdings, Inc.
We have audited the accompanying consolidated balance sheets of Next Group Holdings, Inc. as of December 31, 2016 and 2015 and the related consolidated statements of operations, changes in stockholders’ deficit and cash flows for each of the two years in the period ended December 31, 2016. These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. (...) In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Next Group Holdings, Inc. as of December 31, 2016 and 2015 and the results of their operations and their cash flows for each of the two years in the period ended December 31, 2016, in conformity with accounting principles generally accepted in the United States of America.
The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 4 to the consolidated financial statements, the Company had a net loss before non-controlling interest of $10,041,385 and $1,193,987 and net cash used in operating activities of $929,442 and $794,377, for the years ended December 31, 2016 and 2015, respectively. The Company has a working capital deficit of $9,723,119 and $4,092,479, an accumulated deficit of $13,499,303 and $4,026,827 as of December 31, 2016 and 2015, respectively. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 4. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Our opinion is not modified with respect to that matter.
NXGH failed to disclose the change of auditors in a timely matter, which is par for the course for such a shoddy company.
