LEO MOTORS, INC. (OTCMKTS:LEOM) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01.
Changes in Registrant’s Certifying Accountant.
Prior Independent Registered Public Accounting Firm
On July 25, 2017, Leo Motors, Inc. (the “Company”) was notified by DLL CPAs, LLC (“Former Auditor”) of its decision to discontinue the performance of public company audit services and of its resignation, effective July 25, 2017, as the Company’s independent registered public accounting firm. The Former Auditor served as the auditors of the Company’s financial statements for the period from January 5, 2017 through the effective date of resignation.
The reports of the Former Auditor on the Company’s consolidated financial statements for the Company’s fiscal years ended December 31, 2016 and 2015 did not contain any adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle.
During the Company’s two most recent fiscal years ended December 31, 2016 and 2015, and for the subsequent period through the date of this report, there were no disagreements withthe Former Auditoron any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction ofthe Former Auditor, would have causedthe Former Auditorto make reference to the subject matter of the disagreements as defined in Item 304 of Regulation S-K in connection with any reports it would have issued, and there were no “reportable events” as such term is described in Item 304 of Regulation S-K.
The Company has provided the Former Auditor with a copy of the foregoing disclosure, and requested that the Former Auditor furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with such disclosure.A copy of the letter from the Former Auditor addressed to the Securities and Exchange Commission dated as of July 28, 2017 is filed as Exhibit 16.1 to this Form 8-K
New Independent Registered Public Accounting Firm
On July 25, 2017, the Company engaged L&L CPAs, PA (“L&L”) to serve as the Company’s independent registered public accounting firm, effective July 26, 2017.
During the Company’s two most recent fiscal years and through the date of this report, the Company did not consult with L&L regarding (a) the application of accounting principles to a specified transaction, either completed or proposed, (b) the type of audit opinion that might be rendered on the Company’s financial statements by L&L, in either case where a written report or oral advice provided by L&L that L&L determined would be an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issues or (c) any other matter that was the subject of a disagreement between the Company and its predecessor auditor or was a reportable event (as described in Items 304(a)(1)(iv) or Item 304(a)(1)(v) of Regulation S-K, respectively).
Item 4.01.Financial Statements and Exhibits.
(d) Exhibits
16.1Letter dated July 28, 2017 from DLL CPAs, LLC
Leo Motors, Inc. ExhibitEX-16.1 2 leom_ex16z1.htm EXHIBIT 16.1 Exhibit 16.1 DLL CPAs,…To view the full exhibit click here
About LEO MOTORS, INC. (OTCMKTS:LEOM)
Leo Motors, Inc. is engaged in the development, assembly and sale of the energy storage devices and electric vehicle components. The Company operates through the sale and manufacture of specialized electric vehicle segment. The Company, through its subsidiary, Leo Motors, Co. Ltd., is engaged in the research and development of multiple products, prototypes and conceptualizations. It operates through four unincorporated divisions: new product research and development (R&D), post R&D development, such as product testing, production, and sales. Its products include E-Box electric energy storage system for solar and wind power generation devices, and electric vehicle (EV) components that integrate electric batteries with electric motors, such as EV Controllers that use a mini-computer to control torque drive. It has developed electric power train systems (EPTS) of power rating, including over three Kilowatts, five Kilowatts, 7.5 Kilowatts, 15 Kilowatts, 30 Kilowatts and 60 Kilowatts.