ITEM 4.01 Changes in Registrant's Certifying Accountant
(a) Resignation of Independent Registered Public Accounting
Firm Previously Engaged as Principal Accountant
On August 5, 2016 the Company received notice from its
independent registered public accounting firm CANUSWA Accounting & Tax
Services Inc. (CANUSWA) that it had resigned effective August 5, 2016.
The reports of CANUSWA regarding the Companys financial
statements for the fiscal year ended June 30, 2015 did not contain any adverse
opinion or disclaimer of opinion and were not qualified or modified as to
uncertainty, audit scope or accounting principles, except that the audit report
of CANUSWA on the Companys financial statements for the fiscal year ended June
30, 2015 contained an explanatory paragraph which noted that there was
substantial doubt about the Companys ability to continue as a going
concern.
From the date of CANUSWAS appointment and during the year
ended June 30, 2015, and during the period from June 30, 2015 to August 5, 2016,
the effective date of resignation, (i) there were no disagreements with CANUSWA
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 CANUSWA would have caused it to make reference to such
disagreement in its reports; and (ii) there were no reportable events as defined
in Item 304(a)(1)(v) of Regulation S-K.
The Company has provided CANUSWA with a copy of the foregoing
disclosures and requested that CANUSWA furnish the Company with a letter
addressed to the SEC stating whether or not it agrees with the above statements.
A copy of such letter is filed as Exhibit 16.1 to this Current Report on Form
8-K.
(b) Engagement of Independent Certifying Accountant
Effective August 6, 2016, the Board of Directors of the Company
engaged TAAD LLP as its independent registered public accounting firm to audit
the Companys financial statements for the fiscal year ending June 30, 2016.
During each of the Companys two most recent fiscal years and
through the interim periods preceding the engagement of TAAD LLP, the Company
(a) has not engaged TAAD LLP as either the principal accountant to audit the
Companys financial statements, or as an independent accountant to audit a
significant subsidiary of the
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Company and on whom the principal accountant is expected to
express reliance in its report; and (b) has not consulted with TAAD LLP
regarding (i) the application of accounting principles to a specific
transaction, either completed or proposed, or the type of audit opinion that
might be rendered on the Companys financial statements, and no written report
or oral advice was provided to the Company by TAAD LLP concluding there was an
important factor to be considered by the Company in reaching a decision as to an
accounting, auditing or financial reporting issue; or (ii) any matter that was
either the subject of a disagreement, as that term is defined in Item
304(a)(1)(iv) of Regulation S-K or a reportable event, as that term is described
in Item 304(a)(1)(v) of Regulation S-K.