Tengjun Biotechnology : Change in Certifying Accountants - Form 8-K

Item 4.01CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

On October 2, 2023, Tengjun Biotechnology Corp., a company incorporated under the laws of the State of Nevada (the "Company"), elected not to continue the engagement of PWN LLP serving as the Company's independent registered public accounting firm. The termination of the engagement of PWN LLP has been approved by the Board of Directors of the Company (the "Board").

The report of PWN LLP on the financial statements of the Company as of and for the fiscal year ended December 31, 2022 did not contain any adverse opinion or disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles.

During the Company's two most recent fiscal years and the subsequent interim period through October 2, 2023, there were disagreements with PWN LLP regarding certain accounting treatments. Due to the provision of incorrect accounting information by the Company, PWN LLP discovered significant discrepancies and inconsistencies in the data when reviewing the Company's second quarter financial statements. As a result, PWN LLP declined to recognize any revenue as of June 30, 2023. On August 5, 2023, PWN LLP further notified the Company that action should be taken to prevent future reliance on the Company's previously issued financial statements contained in the Annual Report on Form 10-K for the fiscal year ended December 31, 2022. The errors included mistakes in accounting policies, accounting estimates, and other discrepancies, all of which had a significant impact. PWN LLP requested that the Company retrospectively restate the financial statements and make corrections. However, PWN LLP could not reach an agreement with the Company regarding those issues. On August 29, 2023, PWN LLP communicated significant deficiencies to the management.

The issue has not been resolved to PWN LLP's satisfaction prior to its dismissal. The Company's management has discussed the subject matter of the disagreement described above with PWN LLP. The Company has authorized PWN LLP to respond fully to the inquiries of a successor independent registered public accounting firm related to the disagreement described above.

The Company has provided PWN LLP with a copy of the foregoing disclosure and requested PWN LLP to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made therein. A copy of the letter from PWN LLP is enclosed as Exhibit 16.1 to this Current Report.

In connection with the foregoing, the Board approved the engagement of KG CPA LLP as the Company's new independent registered public accounting firm with effect from October 2, 2023.

During the Company's two most recent fiscal years and the subsequent interim period through October 2, 2023, neither the Company nor anyone on its behalf consulted with KG CPA LLP regarding (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 (and neither a written report nor oral advice was provided that KG CPA LLP 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 defined in Item 304(a)(1)(iv) of Regulation S-K and its related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).