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WECONNECT TECH INTERNATIONAL INC.

(WECT)
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WECONNECT TECH INTERNATIONAL, INC. : Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits (form 8-K)

05/20/2021 | 10:11am EDT

Item 4.01 Change in Registrant's Certifying Accountant

On May 19, 2021, the Board of Directors of WeConnect Tech International, Inc., a Nevada corporation ("we" or "us"), received the resignation of Total Asia Associates PLT ("Total") from its position as our independent registered public accountant., effective immediately. Except as noted in the paragraph immediately below, the reports of Total on the Company's financial statements for the years ended July 31, 2019 and 2018 did not contain an adverse opinion or disclaimer of opinion, and such reports were not qualified or modified as to uncertainty, audit scope, or accounting principle.

The reports of Total on the Company's financial statements as of and for the years ended July 31, 2019 and 2018 contained explanatory paragraphs which noted that there was substantial doubt as to the Company's ability to continue as a going concern due to the Company's continuing losses from operations, which raised doubt about its ability to continue as a going concern.

During the years ended July 31, 2019 and 2018, the Company has not had any disagreements with Total on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to Total's satisfaction, would have caused them to make reference thereto in their reports on the Company's consolidated financial statements for such periods.

During the years ended July 31, 2019 and 2018, there were no reportable events, as defined in Item 304(a)(1)(v) of Regulation S-K.

We have requested that Total furnish us with a letter addressed to the Commission stating whether it agrees with the above statements. A copy of this letter is included herewith as Exhibit 16.1.

In connection therewith, we retained the firm of Olayinka Oyebola & Co. ("OOC"), to audit our consolidated financial statements for our fiscal year ending July 31, 2020.

During the fiscal years ended December 31, 2019 and 2018, and through the date of this Form 8-K, neither the Company nor anyone acting on its behalf consulted OOC regarding (1) 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 consolidated financial statements, and OOC did not provide either a written report or oral advice to the Company that was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, (2) any matter that was either the subject of a disagreement with Total on accounting principles or practices, financial statement disclosure or auditing scope or procedures, which, if not resolved to the satisfaction of Total, would have caused Total to make reference to the matter in their report, or a "reportable event" as described in Item 304(a)(1)(v) of Regulation S-K of the SEC's rules and regulations.

Item 9.01. Financial Statements and Exhibits.




(d). Exhibits.



Number   Exhibit

16.1       Consent of Total Asia Associates PLT










  2

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Financials (USD)
Sales 2020 0,07 M - -
Net income 2020 -1,10 M - -
Net cash 2020 0,00 M - -
P/E ratio 2020 -23,1x
Yield 2020 -
Capitalization 33,7 M 33,7 M -
EV / Sales 2019 1 016x
EV / Sales 2020 389x
Nbr of Employees 15
Free-Float 72,8%
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Managers and Directors
Shiong Han Wee Director, Chief Executive & Financial Officer
Pui Hold Ho Independent Non-Executive Director
Mun Wai Wong Independent Non-Executive Director
Kwueh Lin Wong Secretary & Director
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