Item 4.01 Changes in Registrant's Certifying Accountant
(a) Registrant has retained Mahoney Sabol as its independent accountants.
Newpoint Financial Corporation has appointed MahoneySabol CPA's and Advisors
situated at 180 Glastonbury Boulevard, Suite 400, Glastonbury, CT 06033-4439.
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Interim Review.
The Chief Financial Officer of the registrant concluded that the 10Q filed on
June 17,2021 should no longer be relied upon because the company inadvertently
recorded a related party loan of $1 million and a corresponding loan payable
both of which were incorrect. At the time of filing, this error was not
discovered. It resulted in an error to both the balance sheet and earnings per
share calculation. Additionally, new independent accountants had not been
appointed to review the 10Q, therefore that filing would also be considered
incomplete.
The Chief Financial Officer of the registrant concludes that the 10Q filed on
September 7, 2021 should no longer be relied up because the company
inadvertently recorded a deduction for a foreign currency translation adjustment
that was incorrect. At the time of filing, this error was not discovered. It
resulted in an error to both the income statement and the earnings per share
calculation. Additionally, the second quarter filing was not reviewed by the
companies' newly appointed auditors.
The CFO discussed this matter with registrant's independent accountant
identified above with regard to matters disclosed in Item 4.02(a). It is
expected that an amended 10Q's will be filed by no later than November 15, 2021.
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