Point Capital, Inc. (OTCMKTS:PTCI) Files An 8-K Changes in Registrant’s Certifying Accountant

Point Capital, Inc. (OTCMKTS:PTCI) Files An 8-K Changes in Registrant’s Certifying Accountant
ITEM 4.01 Changes in Registrant’s Certifying Accountant.

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(a) Dismissal of Independent Registered Public Accounting Firm

On January 17, 2019, Friedman LLP (“Friedman”) was dismissed as the independent registered public accounting firm of Point Capital, Inc. (the “Company”). The Company’s Audit Committee of the Board of Directors approved the dismissal of Friedman LLP.

The reports of Friedman on the Company’s financial statements for the years ended December 31, 2017 and 2016, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.

During the years ended December 31, 2017 and 2016 and during the subsequent period ending January 17, 2019, i) there were no disagreements with Friedman on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements would have caused it to make reference thereto in connection with its reports and; ii.) there were no reportable events, as that term is described in Item 304(a)(1)(v) of Regulation S-K.

The Company provided Friedman with a copy of the foregoing disclosures and requested Friedman to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not Friedman agrees with the disclosures. A copy of Friedman letter is filed as Exhibit 16.1 to this Current Report on Form 8-K.

(b) New Independent Registered Public Accounting Firm

On January 17, 2019, the Company’s Audit Committee of the Board of Directors engaged Salberg & Company, P.A. as the Company’s new independent registered public accounting firm. During the Company’s fiscal years ended December 31, 2017 and 2016 and the subsequent period ending January 17, 2019, neither the Company, nor anyone acting on its behalf, consulted withSalberg & Company, P.A. regarding the application of accounting principles to a specific completed or proposed transaction or the type of audit opinion that might be rendered on the Company’s financial statements, and no written report or oral advice was provided by Salberg that Salberg concluded was an important factor considered by the Company in reaching a decision as to any such accounting, auditing or financial reporting issue, or any matter that was the subject of a “disagreement (as defined in item 304(a)(1)(iv) of regulation S-K and related instructions) or a “reportable event” (as defined in item 304(a)(1)(v) of regulation S-K).

Item 9.01 Financial Statements and Exhibits.

Exhibit Number Description
16.1 Letter from Friedman

Point Capital, Inc. Exhibit
EX-16.1 2 f8k011719ex16-1_pointcapital.htm LETTER FROM FRIEDMAN,…
To view the full exhibit click here

About Point Capital, Inc. (OTCMKTS:PTCI)

Point Capital, Inc. is a closed-end, non-diversified investment company that is regulated as a business development company. The Company’s investment objective is to provide current income and capital appreciation. The Company intends to accomplish its objective by investing in the common stock, preferred stock, warrants and convertible notes of small and mid-cap companies. The Company’s investments are made principally through direct investments in prospective portfolio companies. The Company may also purchase securities in private secondary transactions. The Company will also consider investing in private companies that meet its investment objectives. It makes loans to small the United States companies. In addition to lending directly to companies, it buys secondary loans and portfolios. It also offers loans for private equity sponsors. It offers loans for recapitalization, acquisitions, real estate or dividend funding. It also makes bridge loans.

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