8-K ah Auditor drops TOOT
Might try for low ball on this. Been wondering why so many .15 hits lately. Very thinnish but higher vol past few sessions. Not a fan of accounting matters/changes but .10 - .15 might cover that. Risk is loading boat & roach motel trap while market settles. Lot of beverage companies have gone way into sub penny so a cake guy isn't unlikely possibility in hard times. g/l
Form 8-K for TOOTIE PIE COMPANY, INC.
15-Oct-2012 5:28 pm et
Changes in Registrant's Certifying Accountant
Item 4.01. Changes in Registrant's Certifying Accountant
Effective October 9, 2012, the client auditor relationship between Tootie Pie Company, Incorporated (the "Company") and M&K CPAS, PLLC ("M&K") has been terminated by M&K.. As per a previous Form 8K M&K was retained on or about May 22, 2012. The Company filed a 10K on October 5, 2012 that was not audited or reviewed by M&K CPAS, PLLC even though they were the auditor of record at the time. Subsequent to M&K 's resignation and prior to this 8K being submitted a form 10Q was filed by the Company which was also not reviewed by M&K.
There have been no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K during the year ended March 31, 2012, except for M&K informing the Company that they believe there were material errors within the Company's 10K filed on October 5th. "Material errors" is defined as any adjusting entry involving a dollar amount in excess of 5% of the resulting net loss or $40,000.00 dollars.
The Company has authorized M&K to respond fully to any inquiries of any new auditors hired by the Company relating to their engagement as the Company's independent accountant. The Company has requested that M&K review the disclosure and M&K has been given an opportunity to furnish the Company with a letter addressed to the Commission containing any new information, clarification of the Company's expression of its views, or the respect in which it does not agree with the statements made by the Company herein. Such letter is filed as an exhibit to this Report.
Exhibit No. Description
16.1* Letter from M&K CPAS, PLLC
Fave Manhattan bar: There's No One Here. Just Poets and Artists.
