ERHC ENERGY INC. (OTCMKTS:ERHE) Files An 8-K Changes in Registrant’s Certifying Accountant
ITEM 4.01 CHANGE IN COMPANYS CERTIFYING ACCOUNTANT
On December 03, 2016, the audit committee of ERHC Energy, Inc.,
(the Company) approved the disengagement of MaloneBailey, LLP
(MB) as the registered independent public accountant and the
appointment of MK CPAS, PLLC (MK) as the Companys registered
independent public accounting firm as of December 04, 2016. The
audit committee acted on the recommendation of the Companys
management after the Company failed to reach an agreement with MB
on remuneration payable for MB continuing to act as the Companys
independent registered public accountant. The Company has been
cutting expenditure across its operations in view of current
economic conditions.
Other than the disclosure of uncertainty regarding the ability
for us to continue as a going concern which was included in our
accountants report on the amended financial statement filed May
10, 2016 for the years ending September 30, 2014 and September
30, 2015, MBs reports on the financial statements of the Company
for the years ending September 30, 2014 and September 30, 2015
did not contain an adverse opinion or a disclaimer of opinion,
nor were they qualified or modified as to uncertainty, audit
scope, or accounting principles.
In connection with the audit and review of the financial
statements of the Company through June 30, 2016, there were no
disagreements on any matter of accounting principles or
practices, financial statement disclosures, or auditing scope or
procedures, which disagreements if not resolved to their
satisfaction would have caused them to make reference in
connection with MBs opinion to the subject matter of the
disagreement.
In connection with the audited financial statements of the
Company for the years ending September 30, 2014 and September 30,
2015, and interim unaudited financial statements through June 30,
2016, there have been no reportable events with the Company as
set forth in Item 304(a)(1)(v) of Regulation S-K.
Prior to September 2016, the Company did not consult with MK
regarding (1) the application of accounting principles to
specified transactions, (2) the type of audit opinion that might
be rendered on the Companys financial statements, (3) written or
oral advice was provided that would be an important factor
considered by the Company in reaching a decision as to an
accounting, auditing or financial reporting issues, or (4) any
matter that was the subject of a disagreement between the Company
and its predecessor auditor as described in Item 304(a)(1)(iv) or
a reportable event as described in Item 304(a)(1)(v) of
Regulation S-K.
The Company provided a copy of the foregoing disclosures to MB
prior to the date of the filing of this report and requested that
MB furnish it with a letter addressed to the Securities Exchange
Commission stating whether or not it agrees with the statements
in this Report. A copy of the letter furnished in response to
that request is filed as Exhibit 16.1 to this Form 8-K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
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Exhibit No. |
Description |
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| 16.1* |
Letter dated March December 08, 2016 From MaloneBailey, LLP |
Forward-Looking Statements
Forward-looking statements in this 8-K are made to the safe
harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include the
statements regarding potential errors in previously issued
financial statements; the nature, magnitude and scope of
potential errors and the Company’s investigation and analysis
of such potential errors. These statements are just predictions
reflecting managements current judgment and involve risks and
uncertainties, such that actual results may differ
significantly. These risks include, but are not limited to,
additional actions resulting from the Company’s continuing
internal review, as well as the review and audit by the
Company’s independent auditors of restated financial
statements, if any, and actions resulting from discussions with
or required by the Securities and Exchange Commission, along
with other risks and uncertainties discussed in the Companys
Annual Report on Form 10-K for the fiscal 2006 and the Companys
Quarterly Reports on Form 10-Q for subsequent quarters. The
Company disclaims any obligation to update any forward-looking
statements.
About ERHC ENERGY INC. (OTCMKTS:ERHE)
ERHC Energy Inc. is engaged in the business of exploration for oil and gas in Africa. The Company’s business includes interests in exploration acreage in the Republic of Kenya (Kenya), the Republic of Chad (Chad), the Joint Development Zone (JDZ) between the Democratic Republic of Sao Tome and Principe (STP), the Federal Republic of Nigeria (FRN or Nigeria), and the exclusive economic zone of Sao Tome and Principe (the Exclusive Economic Zone or EEZ). Its Republic of Kenya’s Block 11A consists of approximately 11,950.06 square kilometers or over 2.95 million square acres. The Company’s Republic of Chad focuses on over two areas, including North of Esso’s Tega and Maku discoveries in the Doseo basin, and east of and on trend with OPIC’s Benoy-1 margin discovery in the Doba basin. The JDZ lies in the Gulf of Guinea. EEZ Block 11 totals approximately 8,940 square kilometers, situated directly east of the island of Sao Tome and abuts the territorial waters of Gabon. ERHC ENERGY INC. (OTCMKTS:ERHE) Recent Trading Information
ERHC ENERGY INC. (OTCMKTS:ERHE) closed its last trading session down -0.00005 at 0.00050 with 149,212,378 shares trading hands.
