Item 4.01. Changes in Company's Certifying Accountant.
(a) Effective February 21, 2020, Wewards, Inc. (the "Company") dismissed Prager
Metis, LLC, CPA's ("Prager Metis") as the Company's independent registered
public accounting firm. The dismissal was recommended and approved by the
Company's board of directors.
The report of Prager Metis regarding the Company's financial statements for the
most recent fiscal year of the Company ended May 31, 2019, did not contain an
adverse opinion or disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope, or accounting principles, except that such report
contained an explanatory paragraph with respect to uncertainty as to the
Company's ability to continue as a going concern. Prager Metis was not the
Company's independent registered public accounting firm, and did not an issue an
audit report, with respect to the Company's preceding fiscal year ended May 31,
2018.
During the most recent fiscal year of the Company and subsequent interim period
through February 21, 2020, there were (i) no disagreements between the Company
and Prager Metis on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which disagreements, if
not resolved to the satisfaction of Prager Metis, would have caused Prager Metis
to make reference thereto in its report on the Company's financial statements,
and (ii) no "reportable events" as that term is defined in Item 304(a)(1)(v) of
Regulation S-K.
The Company provided Prager Metis with a copy of the disclosure in the preceding
two paragraphs and requested in writing that it furnish the Company with a
letter addressed to the Securities and Exchange Commission stating whether or
not it agrees with such disclosures. Prager Metis provided a letter, dated
February 24, 2020, stating its agreement with such statements as related to
Prager Metis, which is attached as Exhibit 16.1 to this Form 8-K.
(b) On February 21, 2020, the Company engaged M&K CPAS, PLLC ("M&K") to serve
as the Company's independent registered public accounting firm for the fiscal
year ending May 31, 2020. The engagement was recommended and approved by the
Company's board of directors.
During the Company's two most recent fiscal years ended May 31, 2019 and 2018
and the subsequent interim period through February 21, 2020, neither the Company
nor anyone acting on its behalf consulted with M&K regarding: (i) the
application of accounting principles to a specified transaction, either
completed or proposed; (ii) the type of audit opinion that might be rendered on
the Company's financial statements by M&K, nor did M&K provide written or oral
advice to the Company that M&K concluded was an important factor considered by
the Company in reaching a decision as to any accounting, auditing or financial
reporting issue; or (iii) any matter that was the subject of a "disagreement" or
"reportable event" (as such terms are described in Items 304(a)(1)(iv) and (v)
of Regulation S-K).
Item 9.01. Financial Statements and Exhibits.
(a)
Exhibits.
Exhibit 16.1
Letter on Change in Certifying Accountant dated February 24, 2020, filed
herewith.
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