Item 4.01. Changes in Registrant's Certifying Accountant.
(a) On May 27, 2020, the Board of Directors of Tripborn, Inc. (the "Company")
elected to dismiss Marcum LLP as its independent registered accounting firm
effective May 27, 2020. The decision was taken to proactively reduce a wide
ranging nature of costs due to the adverse impact of the novel coronavirus
pandemic and the associated national and local government responses in India
restricting travel and hospitality. Marcum LLP was previously appointed on
January 22, 2020.
Marcum LLP had not issued any audit reports on the consolidated financial
statements of the Company for any period. As such Marcum LLP did not express an
adverse opinion, a disclaimer of opinion, or a qualified or modified (as to
uncertainty, audit scope, or accounting principles) opinion. During the
Company's fiscal year ending March 31, 2020, and during the period from January
22, 2020 through the date of their dismissal: (i) there were no disagreements
(as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions
to Item 304 of Regulation S-K) between the Company and Marcum LLP on any matter
of accounting principles or practices, financial statement disclosure, or
auditing scope or procedures that, if not resolved to the satisfaction of Marcum
LLP, would have caused Marcum LLP to make reference to the subject matter of the
disagreement in connection with its report(s); and (ii) there were no reportable
events (as defined in Item 304(a)(1)(v) of Regulation S-K).
The Company has provided Marcum LLP with a copy of this Current Report on Form
8-K prior to its filing with the Securities and Exchange Commission (the "SEC")
and requested that Marcum LLP furnish the Company with a letter addressed to the
SEC stating whether or not Marcum LLP agrees with the statements made above. A
copy of the Marcum LLP letter, dated May 29, 2020, is filed as Exhibit 16.1 to
this Current Report on Form 8-K.
(b) On May 27, 2020, the Board of Directors of the Company approved the
appointment of Ram Associates as its independent registered public accounting
firm for the fiscal year ending March 31, 2020.
Ram Associates was the Company's independent registered public accounting firm
for the years ended March 31, 2018, 2017 and 2016, respectively. The audit
reports of Ram Associates on the consolidated financial statements of the
Company as of and for the fiscal years ended March 31, 2018, March 31, 2017 and
March 31, 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.
During the Company's fiscal year ended March 31, 2019 and the subsequent interim
period through the date of this Form 8-K, neither the Company nor anyone acting
on its behalf consulted Ram Associates 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, and neither a written report nor oral advice was provided to the
Company that Ram Associates concluded was an important factor considered by the
Company in reaching a decision as to any 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 the related
instructions to Item 304 of Regulation S-K) or a reportable event (as defined in
Item 304(a)(1)(v) of Regulation S-K).
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
Exhibit
No. Description
16.1 Letter of Marcum LLP to the Securities and Exchange Commission, dated May
29, 2020.
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