Old accounting firm dismissed, new one retained. Seemingly, no problems between the firm and the company. Not sure what it means, but might have something to do with the rise in volume/activity yesterday.
------------------------
Effective February 22, 2006, the client auditor relationship between The
World Golf League, Inc. (the "Company") and Pender Newkirk & Company, Certified
Public Accountants, ("Pender Newkirk") ceased as the former accountant was
dismissed. Effective February 22, 2005, the Company engaged Malone & Bailey, PC,
Certified Public Accountants ("Malone") as its principal independent public
accountant for the fiscal year ended December 31, 2005. The decision to change
accountants was recommended and approved by the Company's Board of Directors
effective February 22, 2006.
Pender Newkirk's interim period reports on the financial statements of the
Company, including the interim period up to and including the date the
relationship with Pender Newkirk ceased, did not contain any adverse opinion or
disclaimer of opinion and was not qualified or modified as to uncertainty, audit
scope or accounting principles except for concerns about the Company's ability
to continue as a going concern.
In connection with interim period reports, including the interim period up
to and including the date the relationship with Pender Newkirk ceased, there
were no disagreements between Pender Newkirk and the Company on a matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreement, if not resolved to the satisfaction of
Pender Newkirk would have caused Pender Newkirk to make reference to the subject
matter of the disagreement in connection with its report on the Company's
financial statements.
There have been no reportable events as provided in Item 304(a)(iv)(B) of
Regulation S-B during the Company's fiscal year ended December 31, 2004 and
December 31, 2003, and any later interim period, including the interim period up
to and including the date the relationship with Pender Newkirk ceased.
The Company has authorized Pender Newkirk 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 Pender Newkirk
review the disclosure and Pender Newkirk has been provided 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.
The Company has not previously consulted with Malone regarding either (i)
the application of accounting principles to a specific completed or contemplated
transaction; (ii) the type of audit opinion that might be rendered on the
Company's financial statements; or (iii) a reportable event (as provided in Item
304(a)(iv)(B) of Regulation S-B) during the Company's fiscal years ended
December 31, 2004 and December 31, 2003, and any later interim period, including
<PAGE>
the interim period up to and including the date the relationship with Pender
Newkirk ceased. Malone has reviewed the disclosure required by Item 304 (a)
before it was filed with the Commission and has been provided 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
respects in which it does not agree with the statements made by the Company in
response to Item 304 (a). Malone did not furnish a letter to the Commission.
