FBEC WORLDWIDE, INC. (OTCMKTS:FBEC) Files An 8-K Changes in Registrant’s Certifying AccountantITEM 4.01. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
On October 30, 2017, we dismissed Pinaki & Associates, LLC (“Pinaki”) as our auditor. We are seeking to hire a new auditor.
We dismissed Pinaki as our auditor because on October 26, 2017, the Public Company Accounting Board (“PCAOB”), took the following actions against Pinaki: (a) censured Pinaki; (b) revoked the PCAOB registration of Pinaki; (c) censured Pinaki Mohapatra, the managing partner/sole owner of Panaki; and (d) barred Panaki Mohapatra from being associated with a registered public accounting firm.
The audit reports of Pinaki on our consolidated financial statements as of and for the year ended December 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 fiscal year ended December 31, 2016, and through November 1, 2017, there were no: (i) disagreements with Pinaki on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Pinaki’s satisfaction, would have caused Pinaki to make reference to the subject matter thereof in its reports for such years; or (ii) reportable events, as described under Item 304(a)(1)(v) of Regulation S-K. The reports, however, did contain a going concern qualification.
We provided Pinaki with a copy of the disclosures it is making in this Current Report on Form 8-K and repeatedly requested from Pinaki a letter addressed to the Securities and Exchange Commission indicating whether it agrees with such disclosures; however, Pinaki failed to respond to our requests and we are unable to file such letter as Exhibit 16.1.
About FBEC WORLDWIDE, INC. (OTCMKTS:FBEC)
FBEC Worldwide, Inc., formerly Frontier Beverage Company, Inc., is engaged in the sale of hemp-based energy products. The Company operates a sales, distribution and marketing business for the promotion and sale of hemp-based energy drinks. The Company’s hemp-based energy shot is Wolf Shot. The Company has entered into approximately two joint venture agreements to market, distribute and promote over two additional lines of hemp-based energy drink products.
