Item 4.01
Changes in Registrant's Certifying Accountant.
Effective November 16, 2017, Hein & Associates LLP (“Hein”), the independent registered public accounting firm for UQM Technologies, Inc. (“UQM” or the “Company”), merged with Moss Adams LLP (“Moss Adams”). As a result of this transaction, on November 16, 2017, Hein resigned and must be replaced as the independent registered public accounting firm for the Company. Concurrent with such resignation of Hein, the Company’s audit committee approved the engagement of Moss Adams as the new independent registered public accounting firm for the Company effective for the year ended December 31, 2017.
The audit reports of Hein on the Company’s financial statements for the nine month transition period ended December 31, 2016 and fiscal year ended March 31, 2016 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the two most recent audit periods ended December 31, 2016 and March 31, 2016 and through the subsequent interim periods preceding Hein’s resignation, there were no disagreements between the Company and Hein 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 Hein would have caused them to make reference thereto in their reports on the Company’s financial statements for such years.
During the two most recent audit periods ended December 31, 2016 and March 31, 2016 and through the subsequent interim periods preceding Hein’s resignation, there were no reportable events within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K.
During the two most recent audit periods ended December 31, 2016 and March 31, 2016 and through the subsequent interim periods preceding Moss Adam’s engagement, the Company did not consult with Moss Adams on either (1) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that may be rendered on the Company’s financial statements, and Moss Adams did not provide either a written report or oral advice to the Company that Moss Adams concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (2) any matter that was either the subject of a disagreement, as defined in Item 304(a)(1)(iv) of Regulation S-K, or a reportable event, as defined in Item 304(a)(1)(v) of Regulation S-K.
The Company has provided Hein a copy of the disclosures in this Form 8-K and has requested that Hein furnish a letter to the Securities and Exchange Commission confirming whether or not it agrees with the Company’s statements herein. A copy of such letter dated November 17, 2017 is filed as Exhibit 16.1 to this Form 8-K.