Kisses from Italy Inc (KITL)

[OGINVU]

looks like a pardon until July 12, 2024.for compliance....




Effective as of May 3, 2024, Kisses from Italy Inc. (the “Company), dismissed BF Borgers CPA P.C. (“BF Borgers”) as its independent registered public accounting firm. The decision to change independent registered public accounting firms was made with the recommendation and approval of the Company’s board of directors.



BF Borgers had served as the Company’s independent auditor since 2018. BF Borgers’ audit reports on the Company’s consolidated financial statements as of and for the fiscal years ended December 31, 2022 and December 31, 2021 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to audit scope or accounting principles, except that such reports included explanatory paragraphs with respect to the Company’s ability, in light of its accumulated losses and negative cash flows from operations, to continue as a going concern.



During the fiscal years ended December 31, 2022 and 2021, and the subsequent interim period through the date of this report, there were no disagreements, as that term is defined in Item 304(a)(1)(iv) of Regulation S-K, between the Company and BF Borgers on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to BF Borgers’ satisfaction, would have caused BF Borgers to make reference to such disagreements in its audit reports.



During the fiscal years ended December 31, 2022 and 2021, and the subsequent interim period through the date of this report, there were no reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K.



The U.S. Securities and Exchange Commission (the “SEC”) has advised that, in lieu of obtaining a letter from BF Borgers stating whether or not it agrees with the statements herein, the Company may indicate that BF Borgers is not currently permitted to appear or practice before the SEC for reasons described in the SEC’s Order Instituting Public Administrative and Cease-and-Desist Proceedings pursuant to Section 8A of the Securities Act of 1933, Sections 4C and 21C of the Securities Exchange Act of 1934 and Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order, dated May 3, 2024.



The Company has commenced a search for a new independent registered public accounting firm and at such time as a new firm is formally engaged, the Company will file a current report on Form 8-K disclosing such appointment.



Item 8.01 Other Events


As previously reported by the Company in its Current Report on Form 8-K dated February 14, 2024 filed with the SEC, on February 9, 2024, the Company received the letter from OTC Markets, Inc. (“OTC Markets”) notifying the Company that its bid price has closed below $0.01 for more than 30 consecutive calendar days and that the Company no longer meets the Standards for Continued Eligibility for OTCQB (the “OTCQB Standards”), which requires maintaining proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior 30 consecutive calendar days (the “Minimum Closing Bid Price”) and granting the Company to regain compliance with the Minimum Closing Bid Price by May 9, 2024.



On May 6, 2024, OTC Markets granted the Company an additional cure period to regain compliance with the Minimum Closing Bid Price by July 12, 2024. In addition, OTC Markets granted the Company the cure period under the OTCQB Standards to file the annual report on form 10-K for the year ended December 31, 2023, and the quarter report on Form 10-Q for the period ended March 31, 2024, with the Commission by July 12, 2024. The Company intends to regain compliance with these OTCQB Standards by July 12, 2024.


https://ih.advfn.com/stock-market/USOTC/kisses-from-italy-qb-KITL/stock-news/93805088/form-8-k-current-report