Changes in Registrants Certifying Accountant
(a) Dismissal of independent registered public accounting firm.
On January 16, 2019, General Moly, Inc. (the Company) dismissed PricewaterhouseCoopers LLP as its independent registered public accounting firm. Such dismissal will become effective upon completion by PricewaterhouseCoopers LLP of its procedures on the financial statements of the Company as of and for the year ended December, 31, 2018 and the filing of the related Annual Report on Form 10-K. The Audit Committee of the Companys Board of Directors participated in and approved the decision to change the Companys independent registered public accounting firm. The decision to change independent registered public accounting firms was made as a part of the Companys ongoing cost reduction and cash conservation plan.
The reports of PricewaterhouseCoopers LLP on the financial statements as of and for the years ended December 31, 2017 and 2016 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle,
except that PricewaterhouseCoopers LLPs report on the Companys financial statements as of and for the years ended December 31, 2017 and 2016 included an emphasis of matter paragraph related to liquidity pressures that could affect amounts reported in the Companys financial statements in future periods.
During the fiscal years ended December 31, 2017 and 2016 and the subsequent interim period through January 16, 2019, there have been no disagreements with PricewaterhouseCoopers LLP 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 PricewaterhouseCoopers LLP would have caused them to make reference thereto in their reports on the financial statements for such years. In addition, there were no reportable events (as that term is defined in Item 304(a)(1)(v) of Regulation S-K) during the fiscal years ended December 31, 2017 and 2016 and the subsequent interim period through January 16, 2019, except PricewaterhouseCoopers LLP has communicated to us that the scope of its audit of our December 31, 2018 financial statements will need to be expanded based on our disclosure that there is substantial doubt about our ability to operate as a going concern (see Note 2-Liquidity to the consolidated financial statements included in our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2018).
The Company has requested that PricewaterhouseCoopers LLP provide it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, dated January 22, 2019, is filed as Exhibit 16.1 to this Form 8-K.
(b) Engagement of new independent registered public accounting firm.
The Audit Committee of the Companys Board of Directors engaged Plante & Moran PLLC as the Companys new independent registered public accounting firm as of January 16, 2019. During the fiscal years ended December 31, 2017 and 2016 and the subsequent interim
period through January 16, 2019, the Company has not consulted with Plante & Moran PLLC regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Companys financial statements, and neither a written report was provided to the Company or oral advice was provided that Plante & Moran PLLC 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 that term is defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K, or a reportable event, as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
Financial Statements and Exhibits