Item 4.01. Changes in Registrant's Certifying Accountants
On May 11, 2021, we appointed MSPC Certified Public Accountants and Advisors,
P.C. ("MSPC") to replace our principal independent accountant, Moore Stephens
CPA Limited ("MS"). The decision was approved by the Board of Directors of TGS
International Ltd. (the "Company").
There were no disagreements between the Company and MS on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, from the time of MS's engagement up to the date of dismissal
which disagreements that, if not resolved to MS's satisfaction, would have
caused MS to make reference to the subject matter of the disagreement in
connection with its report issued in connection with the audit of the Company's
financial statements.
None of the reportable events described under Item 304(a)(1)(v)(A)-(D) of
Regulation S-K occurred within the three fiscal years of the Company ended
December 31, 2020, 2019 and 2018 and subsequently up to the date of dismissal.
The audit report of MS on the financial statements of the Company as of December
31, 2020, 2019 and 2018 did not contain any adverse opinion or disclaimer of
opinion, and such audit report was not qualified or modified as to uncertainty,
audit scope or accounting principles, except for MS's explanatory paragraph
regarding the Company's ability to continue as a going concern. A letter from MS
addressed to the Securities and Exchange Commission stating that it concurs with
the statements made by the Company with respect to MS in this Current Report on
Form 8-K. A copy of such letter is furnished hereto with the filing of this
Current Report on Form 8-K.
During the fiscal year of the Company ended December 31, 2020, 2019 and 2018 and
through May 11, 2021, the Company did not consult MSPC 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 Company's financial statements; or (ii) any matter that was either the
subject of a "disagreement" or "reportable event" within the meaning set forth
in Regulation S-K, Item 304 (a)(1)(iv) or (a)(1)(v).
Item 9.01 Financial Statements and Exhibits
Exhibit
Number Description
16.1 Letter from Moore Stephens CPA Limited
2
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