Item 4.01. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On June 20, 2022, Yong Bai Chao New Retail Corporation, a company incorporated
under the laws of the State of Nevada (the "Company"), elected not to continue
the engagement of BF Borgers CPA PC ("BF Borgers") serving as the Company's
independent registered public accounting firm. The termination of the engagement
of BF Borgers was approved by the Board of Directors of the Company (the
"Board") on August 2, 2022.
The reports of BF Borgers on the financial statements of the Company as of and
for the fiscal years ended December 31, 2021 and 2020 did not contain any
adverse opinion or disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope or accounting principles.
During the Company's most recent fiscal years and the subsequent interim period
through June 20, 2022, there were no disagreements with BF Borgers on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which disagreement(s), if not resolved to the
satisfaction of BF Borgers, would have caused it to make reference to the
subject matter of the disagreement(s) in connection with its report. During the
Company's most recent fiscal years and the subsequent interim period through
August 2, 2022, there were no reportable events of the type described in Item
304(a)(1)(v) of Regulation S-K.
The Company provided BF Borgers with a copy of the foregoing disclosure and
requested BF Borgers to furnish the Company with a letter addressed to the
Securities and Exchange Commission stating whether it agrees with the statements
made therein. A copy of such letter furnished by BF Borgers is filed as Exhibit
16.1 to this Form 8-K.
On August 2, 2022, the Board approved the engagement of KCCW Accountancy Corp
("KCCW") as the Company's new independent registered public accounting firm.
During the Company's most recent fiscal years and the subsequent interim period
through August 2, 2022, neither the Company nor anyone on its behalf consulted
with KCCW regarding (i) the application of accounting principles to a specified
transaction, either completed or proposed; the type of audit opinion that might
be rendered on the Company's financial statements, and neither a written report
nor oral advice was provided that KCCW concluded was an important factor
considered by the Company in reaching a decision as to the accounting, auditing
or financial reporting issue; or (ii) any matter that was either the subject of
a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and its
related instructions) or a reportable event (as described in Item 304(a)(1)(v)
of Regulation S-K).
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Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
The exhibit listed in the following Exhibit Index is filed as part of this
Current Report on Form 8-K.
Exhibit No. Description
16.1 Letter from BF Borgers CPA PC dated August 5, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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