On January 5, 2009, the Company engaged Yu and Associates CPA Corporation (“Yu and Associates”) as Company’s new independent accountants. At no time during the past two fiscal years or any subsequent period prior to the engagement did the Company consult with Yu and Associates, the newly engaged accountant, regarding any matter described in Item 304(a)(2) of Regulation SK, including any issue related to Company’s financial statements or the type of audit opinion that might be rendered for the Company.
On January 5, 2009, the Company’s former independent accountants, Zhong Yi (Hong Kong) C.P.A. Company Limited (“Zhong Yi”) were dismissed as independent accountants of the Company. The change of independent accountants was approved by the Board of Directors of the Company .
The former independent accountant’s reports on the Company’s financial statements for the last two fiscal years did not contain any adverse opinions or disclaimer opinions, nor were the reports qualified or modified as to uncertainty, audit scope or accounting principles.
Furthermore, the accountant’s reports did not include any disclosure of uncertainty regarding the Company’s ability to continue as a going concern.
During the Company’s last two fiscal years and through the date of dismissal, there were no disagreements between the Company and its former independent accountants on any matters relating to accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to the satisfaction of the former independent accountants, would have caused them to make reference to the subject matter of the disagreement in their report.
The Company requested Zhong Yi to furnish a letter addressed to the Securities and Exchange Commission stating whether or not Zhong Yi agrees with the statements in this 8-K. A copy of such letter is filed as exhibit 16.1 to this 8-K
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