integral .. Other than the late filing and change in auditors, which is very common during mergers, what other issues?
We're all aware the new auditors will have to comb thru the past financials and its taking time but although we won't know until the fins drop, per the 8k filed for the former auditor's dismissal, there's currently no indication of wrongdoing on the former auditor's part ..
SEC notified TALK 10/6 and he was dismissed from the company the same day (effective 9/30 per filing) ..
During the fiscal year ended August 31, 2014 and 2013, and through the date of dismissal, (a) the Company had no disagreements with the Former Auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement, if not resolved to the satisfaction of the Former Auditor, would have caused it to make reference to the subject matter of the disagreement in connection with its reports and (b) there were no “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K).
The Company provided the Former Auditor with a copy of this disclosure prior to its filing with the Commission, and requested that the Former Auditor furnish the Company with a letter addressed to the Commission stating whether the Former Auditor agrees with the statements made in this Current Report on Form 8-K, and if not, stating the aspects with which the Former Auditor does not agree. A copy of the letter provided by the Former Auditor is filed as Exhibit 16.1 to this Current Report on Form 8-K ...
(in which he signed the doc and agreed with the filing as well)
New auditors are reputable and knowledgable in mergers, acquisitions, financial reporting etc and have conducted audits on companies with revs of excess of 700 million for over 12 years .. Its evident the company is handling things by the book and we shall see very soon the rewards!!
$$$$TALK$$$$
AI
