JACOBS FINANCIAL GROUP, INC. (OTCMKTS:JFGI) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 9.01 – CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANTS
Effective October 1, 2018, EKS&H LLLP (“EKS&H”), the independent registered public accounting firm for Jacobs Financial Group Inc.’s (the “Company”), combined with Plante & Moran PLLC (“Plante Moran”). As a result of this transaction, on December 19, 2018 EKS&H resigned as the independent registered public accounting firm for the Company. Concurrent with such resignation, the Company’s audit committee approved the engagement of Plante Moran as the new independent registered public accounting firm for the Company.
The audit reports of EKS&H on the Company’s financial statements for the years ended May 31, 2017 and 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 two most recent fiscal years ended May 31, 2017 and 2016 and through the subsequent interim period preceding EKS&H’s resignation, there were no disagreements between the Company and EKS&H on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of EKS&H would have caused them to make reference thereto in their reports on the Company’s financial statements for such years.
During the two most recent fiscal years ended May 31, 2017 and 2016 and through the subsequent interim period preceding EKS&H’s resignation, there were no reportable events within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K.
During the two most recent fiscal years ended May 31, 2017 and 2016 and through the subsequent interim period preceding Plante Moran’s engagement, the Company did not consult with Plante Moran on either (1) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that may be rendered on the Company’s financial statements, and Plante Moran did not provide either a written report or oral advise to the Company that Plante Moran concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (2) any matter that was either the subject of a disagreement, as defined in Item 304(a)(1)(iv) of Regulation S-K, or a reportable event, as defined in Item
304(a)(1)(v) of Regulation S-K.
The Company has provided EKS&H a copy of the disclosures in this Form 8-K and has requested that EKS&H furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the Company’s statements herein. A copy of the letter dated December 19, 2018 is filed as Exhibit 16.1 to this Form 8-K.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01 – EXHIBITS
The following exhibits are filed with this report on Form 8-K.
| Exhibit Number | Exhibit |
| 16.1 | Letter from EKS&H LLLP |
JACOBS FINANCIAL GROUP, INC. Exhibit
EX-16.1 2 ex16_1.htm EXHIBIT 16.1 December 19,…
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About JACOBS FINANCIAL GROUP, INC. (OTCMKTS:JFGI)
Jacobs Financial Group, Inc. is engaged in retirement and financial planning, business succession planning, long-term care, group and individual health insurance. The Company operates through two segments: investment advisory services, and surety insurance products and services. The Company’s subsidiaries include FS Investments, Inc. (FSI), Jacobs & Company (Jacobs & Co.), First Surety Corporation (FSC) and Crystal Mountain Spring Water, Inc. (CMW). FSI is a holding company. FSI, through its subsidiary Triangle Surety Agency, Inc. (Triangle), is engaged in the business of placing surety bonds with insurance companies for clients engaged in regulated industries, such as the extraction of coal, oil and gas. Jacobs & Co. provides fee-based investment advisory services to institutions, companies and individuals. FSC is a property and casualty company. CMW has an undeveloped leasehold interest in a mineral water spring located near Hot Springs, Arkansas.
