Item
4.01 Changes in Registrant’s Certifying Accountant
(a)
Resignation of Previous Independent Registered Public Accounting Firm.
On
December 27, 2017, (the “Company”) dismissed Weld Asia Associates (“Weld Asia”) as the independent registered
public accounting firm of the Company, effective immediately. The dismissal of Weld Asia was approved by the Company’s Board
of Directors.
The
audit reports of Weld Asia on the consolidated financial statements of the Company for each of the two most recent fiscal years
ended June 30, 2017 and June 30, 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, except that its report contained a going concern qualification
as to the Company’s ability to continue.
During
the fiscal years ended June 30, 2017 and June 30, 2016, and the subsequent interim period through November 13, 2017, there were
no (i) disagreements with Weld Asia on any matter of accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements if not resolved to their satisfaction, would have caused them to make reference to the
subject matter of the disagreement in connection with their report, or (ii) reportable events (as described in Item 304(a)(1)(v)
of Regulation S-K).
The
audit reports of Weld Asia on the Company’s consolidated financial statements as of and for the years ended June 30, 2017
and June 30, 2016 did not contain any adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty,
audit scope, or accounting principles. The audit reports of Weld Asia on the effectiveness of internal control over financial
reporting as June 30, 2017 and June 30, 2016 did not contain any adverse opinion, nor were they qualified or modified as to uncertainty,
audit scope, or accounting principles.
The
Company has provided Weld Asia with a copy of the disclosures in this Current Report and the Company requested a letter from Weld
Asia addressed to the U.S. Securities and Exchange Commission stating whether it agrees with the above statements. A copy of that
letter is attached as an exhibit to this Current Report.
(b)
Engagement of New Independent Registered Public Accounting Firm.
On
December 27, 2017, concurrent with the dismissal of Weld Asia the Company, upon the Board of Directors’ approval, engaged
Total Asia Associates (“Total Asia”) as the Company’s independent registered public accounting firm, effective
immediately.
During
the fiscal years ended June 30, 2017 and June 30, 2016, and the subsequent interim period through December 27, 2017, neither the
Company nor anyone on its behalf consulted Total Asia regarding either (i) the application of accounting principles to any specified
transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial
statements; or (ii) any matter that was either the subject of a disagreement (as described in Item 304(a)(1)(iv) of Regulation
S-K) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).