Item 4.01 Changes in Registrant's Certifying Accountant.
On December 8, 2022, the Board of Directors voted to dismiss Boyle, CPA, LLC
(the "Former Accountant") as the Company's independent registered public
accounting firm and the Company engaged Salberg & Company, PA (the "New
Accountant") as the Company's independent registered public accounting firm. The
engagement of the New Accountant was approved by the Company's Board of
Directors.
The Former Accountant was engaged on February 21, 2020 and did audit the
Company's financial statements for the fiscal years ended July 31, 2020 and
2021.
From the period of engagement, February 21, 2020, and through the interim period
ended December 8, 2022, there were no "disagreements" (as such term is defined
in Item 304 of Regulation S-K) with the Former Accountant on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedures, which disagreements if not resolved to the satisfaction of
the Former Accountant would have caused them to make reference thereto in their
reports on the financial statements for such periods.
From the period of engagement, February 21, 2020, and through the interim period
ended December 8, 2022, there were the following "reportable events" (as such
term is defined in Item 304 of Regulation S-K). As disclosed in Part II, Item 9A
of the Company's Form 10-K for the year ended July 31, 2021, the Company's
management determined that the Company's internal controls over financial
reporting were not effective as of the end of such period.
The Company's internal controls have not been remediated as of the date of this
Current Report on Form 8-K.
Other than as disclosed above, there were no reportable events from the period
of engagement, February 20, 2020, and through the interim period ended December
8, 2022. The Company's Board of Directors discussed the subject matter of each
reportable event with the Former Accountant. The Company authorized the Former
Accountant to respond fully and without limitation to all requests of the New
Accountant concerning all matters related to the audited period by the Former
Accountant, including with respect to the subject matter of each reportable
event.
Prior to retaining the New Accountant, the Company did not consult with the New
Accountant regarding either: (i) the application of accounting principles to a
specified transaction, either contemplated or proposed, or the type of audit
opinion that might be rendered on the Company's financial statements; or (ii)
any matter that was the subject of a "disagreement" or a "reportable event" (as
those terms are defined in Item 304 of Regulation S-K).
On December 13, 2022, the Company notified the former Accountant of the
determination to be dismissed and provided the Former Accountant with its
disclosures in the Current Report on Form 8-K disclosing the dismissal of the
Former Accountant and requested in writing that the Former Accountant furnish
the Company with a letter addressed to the Commission stating whether or not
they agree with such disclosures. The Former Accountant's response is filed as
an exhibit to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
16.1 Letter from Boyle CPA, LLP to the Securities and Exchange Commission
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