MV PORTFOLIOS, INC. (OTCMKTS:MVPI) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01
(a)On January 2, 2018, the Board of Directors of MV Portfolios, Inc. (the “Company”), dismissed MaloneBailey, LLP (“MaloneBailey”) as its independent registered public accounting firm, effective as of such date.
The report of MaloneBailey on the Company’s consolidated financial statements as of June 30, 2016 and 2015 and for the years June 30, 2016 and 2015 did not contain an adverse opinion or disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles, other than an explanatory paragraph relating to the Company’s ability to continue as a going concern. During the years ended June 30, 2016 and 2015 and through January 2, 2018 there were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) with MaloneBailey 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 MaloneBailey, would have caused MaloneBailey to make reference to the matter in its report on the consolidated financial statements for such year. There were also no reportable events except that MaloneBailey advised the Company of certain material weaknesses in the Company’s internal control over financial reporting as disclosed in Item 9A to the Company’s Form 10-K filed April 2017.
The Company has provided MaloneBailey with a copy of the foregoing disclosures and requested that it furnish a letter to the Securities and Exchange Commission stating whether or not it agrees with the above statements, and, if not, stating the respects in which it does not agree. A copy of such letter is filed as Exhibit 16.1 to this Current Report on Form 8-K.
(b)On January 2, 2018, the Board of Directors approved the appointment of LBB & Associates Ltd., LLP (“LBB”) as the Company’s independent registered public accounting firm for the fiscal year ended June 30, 2017.
During the years ended June 30, 2016 and 2015 and through January 2, 2018, neither the Company nor anyone on their behalf consulted with LBB with respect to either (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither written nor oral advice was provided to the Company that LBB concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; (ii) any matter that was either the subject of 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).
| Item 9.01 | Financial Statements and Exhibits. |
(d)Exhibits.
| Exhibit No. | Description | |
| 16.1 | Letter dated January 5, 2018 from MaloneBailey, LLP to the Securities and Exchange Commission. |
MV Portfolios, Inc. ExhibitEX-16.1 2 ex16-1.htm LETTER DATED JANUARY 5,…To view the full exhibit click here
About MV PORTFOLIOS, INC. (OTCMKTS:MVPI)
MV Portfolios, Inc. (MVP) is a patent productization company. The Company assists universities and inventors with their mobile applications and smartphone technology intellectual property. The Company focuses on helping various universities working on overlapping patents. MVP holds a series of patents related to street level imaging and location based services. It focuses on providing financial, business and technology development resources to help university inventors and technology transfer offices.