Item 4.01. Changes in Registrant's Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm
On December 2, 2021, the Board of Directors of Sollensys Corp (the "Company")
terminated the engagement of MaloneBailey, LLP ("MaloneBailey") as the Company's
independent registered accounting firm.
MaloneBailey's report on the Company's financial statements for the transition
period from March 31, 2020 to December 31, 2020 did not contain an adverse
opinion or a disclaimer of opinion and was not qualified or modified as to
uncertainty, audit scope or accounting principles, except that the report
included an explanatory paragraph relating to an uncertainty as to the Company's
ability to continue as a going concern. Furthermore, from March 31, 2020 and
through December 2, 2021, there have been no disagreements with MaloneBailey on
any matter of accounting principles or practices, financial statement disclosure
or auditing scope or procedure, which disagreements, if not resolved to
MaloneBailey's satisfaction, would have caused MaloneBailey to make reference to
the subject matter of the disagreement in connection with its report on the
Company's financial statements for the transition period from March 31, 2020 to
December 31, 2020.
Except as set forth below, for the transition period from March 31, 2020 to
December 31, 2020, there were no "reportable events" as that term is described
in Item 304(a)(1)(v) of Regulation S-K. In connection with the audit of the
Company's financial statements for the transition period from March 31, 2020 to
December 31, 2020, MaloneBailey identified the existence of a material weakness
in the Company's internal control over financial reporting. The ineffectiveness
of the Company's internal control over financial reporting was due to the
following material weaknesses which the Company identified in its internal
control over financial reporting: lack of segregation of duties and multiple
level of review due to limited accounting personal, lack of formal documentation
surrounding internal controls, and lack of controls over proper maintenance of
records. These material weaknesses have not been corrected.
The Company provided MaloneBailey with a copy of the disclosure contained
herein, prior to its filing with the Securities and Exchange Commission (the
"Commission"), and requested that MaloneBailey furnish the Company a letter
addressed to the Commission stating whether or not it agreed with the statements
herein and, if not, stating the respects in which it does not agree.
MaloneBailey's letter to the Commission is attached hereto as Exhibit 16.1.
(b) Engagement of New Independent Registered Accounting Firm
On December 2, 2021, the Company's Board of Directors appointed HoganTaylor LLP
("HoganTaylor") as the Company's new independent registered accounting firm.
During the Company's two most recent fiscal years and through December 2, 2021,
neither the Company nor anyone acting on the Company's behalf consulted
HoganTaylor with respect to any of the matters or reportable events set forth in
Item 304(a)(2)(i) and (ii) of Regulation S-K.
Item 9.01 Financial Statement and Exhibits.
(d) Exhibits
Exhibit No. Description
16.1 Letter from MaloneBailey, LLP, dated December 6, 2021, addressed
to the Securities and Exchange Commission.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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