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HollywoodFastLane Member Profile
 
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HollywoodFastLane   Sunday, 02/24/13 07:16:27 PM
Re: None
Post # of 131769 
RESPONSE TO COMMENT POST

Te SEC comment came from their accounting department not the enforcement division. This division reviews quarterly and annual reports for all companies.

They saw that we had a newly named auditor and thought that we had a new audit firm which would require permission of the previous auditor to reference previous audits of that years quarterly reports and previous annual report into the current annual report.

They stated in the letter to us...

"... Therefore, it appears to us that you incorporated by reference the Form 10 K for the year ended December 31, 2011 and need your auditors to consent to the incorporation by reference of their audit report dated March 29, 2012. Please file a consent or explain to us why you do not believe a consent is required."

But, We did not change our auditors. They did a name change. Because of this we did not need a new consent from the previous audit company because we did not hire a new audit company, then only did a name change. We amended the 10-k to reflect that there was a name change but no change to the firm.

It is a very simple non issue. There are no issues with the SEC and our company. There is no chance of a suspension because this is not an issue brought about by the enforcement division it came from the accounting division. We have violated no SEC rules.

We have since responded again and spoke to the accounting division after this letter has been sent out and explained the same. Bottom line is we did not change auditors and do not need a consent from the old audit company because there is no old audit company.


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