CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) Files An 8-K Changes in Registrant’s Certifying AccountantITEM 4.01 CHANGES IN REGISTRANTS CERTIFYING ACCOUNTANT.
(a) Resignation of RBSM, LLP, Certified Public Accountants
On May 1, 2017, RBSM, LLP (RBSM) resigned as independent auditors of Cardinal Energy Group, Inc. (CEGX). The resignation of RBSM was accepted by the Board of Directors of CEGX on May 2, 2017.
During CEGXs fiscal years ended December 31, 2016 and 2015 and through May 1, 2017, (i) there have been no disagreements with RBSM on matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure which, if not resolved to the satisfaction of RBSM would have caused RBSM to make reference to such matter in connection with its reports, and (ii) there were no reportable events as that term is described in Item 304(a)(1)(v) of Regulation S-K.
RBSM did not issue a report on CEGXs financial statements for the year ended December 31, 2016. RBSMs reports on the financial statements for the years ended December 31, 2015 and 2014 contained no adverse opinions or disclaimer of opinions and were not qualified or modified as to uncertainty, audit scope or accounting principles.
CEGX has furnished RBSM with a copy of the foregoing disclosures and requested RBSM to furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the foregoing statements and, if not, stating the respects in which it does not agree. A copy of the letter of RBSM to the Securities and Exchange Commission will be attached as Exhibit 16.1 to an amendment to this current report on Form 8-K once CEGX receives it from RBSM.
(b) Engagement of Pinaki Associates, LLC, Certified Public Accountants
On May 2, 2017, the Board of Directors of CEGX approved the engagement of Pinaki Associates, LLC (Pinaki) as CEGXs independent public accountants for its fiscal year ended December 31, 2016 and the fiscal year ending December 31, 2017, effective May 4, 2017. During the fiscal years ended December 31, 2016 and 2015 and through the date CEGX engaged Pinaki, neither CEGX, nor anyone acting on its behalf, consulted with CEGX 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 CEGXs financial statements, and no written report or oral advice was provided to CEGX that Pinaki concluded was an important factor considered by CEGX in reaching a decision as to the accounting, auditing or financial reporting issue, or (ii) any matters that were 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 described in Item 304(a)(1)(v) of Regulation S-K).
About CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX)
Cardinal Energy Group, Inc. is engaged in the business of acquiring, developing and operating oil and gas leases. These operations are primarily focused on properties in which it holds a leasehold interest. The Company owns interests in oil and gas leases located in the north-central section of Texas. It holds approximately 85% working interest in the Dawson-Conway leases located in Shackelford County, Texas. The property consists of approximately 41 wells on over 618 acres. It holds approximately 100% working interest in the Powers-Sanders lease located in Shackelford County, Texas. The property consists of approximately 385 acres and over five producing oil wells. It holds approximately 100% working interest in the Stroebel-Broyles leases located in Eastland County, Texas. It holds approximately 43.75% working interest in the Fortune prospect located in Shackelford County, Texas. It holds over 100% working interest in the Bradford West lease. CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) Recent Trading Information
CARDINAL ENERGY GROUP, INC. (OTCMKTS:CEGX) closed its last trading session down -0.00100 at 0.00430 with shares trading hands.
