time to take the Money out of the lottery, this a more than scetchy news:
Solar Power, Inc. (“SPI” or “SPI Solar”) (OTCBB:SOPW), a vertically-integrated photovoltaic (“PV”) developer, today announced that it dismissed Crowe Horwath LLP (“Crowe”) as its principal accountants effective on November 18, 2014. The decision to dismiss Crowe was approved by SPI’s board of directors. Contemporaneous with the dismissal of Crowe, SPI decided to engage KPMG Huazhen (Special General Partnership) (“KPMG Huazhen”) as its principal accountants for its consolidated financial statements as of and for the year ending December 31, 2014, a decision also approved by SPI’s board of directors.
Except for an explanatory paragraph following its opinion indicating that there was substantial doubt about SPI’s ability to continue as going concern, the audit reports of Crowe on SPI’s consolidated financial statements as of and for the years ended December 31, 2013 and 2012 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principle.
During the two most recent fiscal years and the subsequent interim periods through the date of dismissal, SPI has not had any disagreements with Crowe on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to Crowe’s satisfaction, would have caused them to make reference in connection with their opinion to the subject matter of the disagreement. During the two most recent fiscal years and the subsequent interim periods through the date of dismissal, there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K, except for the reportable events identified in SPI’s relevant annual reports and quarterly reports.
During SPI’s two most recent fiscal years and the subsequent interim periods through the date of this press release, neither SPI nor anyone on its behalf has consulted with KPMG Huazhen regarding either (1) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on SPI’s consolidated financial statements, and neither a written report nor oral advice was provided to SPI that KPMG Huazhen concluded was an important factor considered by SPI in reaching a decision as to any accounting, auditing or financial reporting issue, or (2) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K) or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K).
Mr. Xiaofeng Peng, Chairman of SPI, stated, “We are very pleased to announce the engagement of KPMG Huazhen as our new independent registered public accountant, a leading provider of auditing and accounting services. We look forward to working closely with KPMG Huazhen in the coming years. We would also like to show our appreciation for Crowe’s services provided to date and wish Crowe every success in the future.”
