REIGN SAPPHIRE CORPORATION (OTCMKTS:RGNP) Files An 8-K Changes in Registrant’s Certifying AccountantITEM 4.01 CHANGES IN REGISTRANT’S CERTIFYING ACCOUNTANT
On October 8, 2018, the Company dismissed Hall & Company (“Hall”) as its independent registered accounting firm and engaged Benjamin & Young LLP CPA as its new independent registered accounting firm, which was approved by the Company’s board of directors.
Since Hall’s appointment as our independent registered accounting firm on March 9, 2016 and through October 8, 2018, which included its audits of our financial statements and reviews of Forms 10-K for the years ended December 31, 2017, 2016 and 2015, and reviews of the quarterly Forms 10-Q for the years ended December 31, 2017 and 2016, as well as a review of the Form 10-Q for the periods ended June 30, 2018 and March 31, 2018, there were (i) no disagreements between the Company and Hall on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreement, if not resolved to the satisfaction of Hall, would have caused Hall to make reference thereto in their reports on the financial statements for such years, and (ii) no “reportable events” as that term is defined in Item 304(a)(1)(v) of Regulation S-K. The report of Hall on the Company’s consolidated financial statements for the years ended December 31, 2017 and 2016 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope, or accounting principles, except that the reports contained a modification to the effect that there was substantial doubt as to the Company’s ability to continue as a going concern.
The Company provided Hall with a copy of this Form 8-K and requested that Hall furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not Hall agrees with the above statements. A copy of such letter, dated October 8, 2018 is attached as Exhibit 16.1.
On October 8, 2018 the Registrant engaged Benjamin & Young LLP CPA (“B&Y”) as the Registrant’s new independent registered public accounting firm. B&Y will be reviewing the financial statements that are to be included in the Quarterly Report for the period ended September 30, 2018. B&Y did not prepare or provide any financial reports for any periods prior to the date of engagement, nor did it prepare or provide any financial reports for, or prior to the year ended December 31, 2017. Neither the Company, nor any person on behalf of the Company, consulted with B&Y during the Company’s two most recent fiscal years or the subsequent interim period prior to the engagement of B&Y and the dismissal of Hall.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
Reign Sapphire Corp ExhibitEX-16.1 2 s113343_ex16-1.htm EXHIBIT 16.1 Exhibit 16.1 October 8,…To view the full exhibit click here
About REIGN SAPPHIRE CORPORATION (OTCMKTS:RGNP)
Reign Sapphire Corporation is a jewelry company. The Company is focused on offering an integrate model for sapphires direct from the mine’s gate to the retail supply chain, including processing rough sapphires and gem cutting, and designing and manufacturing fine jewelry. It is a vertically integrated mine-gate to retail model for sapphires-rough sapphires to finished jewelry; a color gemstone brand, and a jewelry brand featuring Australian sapphires. Its initial product line consists of rings, bracelets and necklaces. The Company focuses on eventually manufacturing pendants and watches. The sapphires used are 1.5 millimeters to 2.5 millimeters diamond and princess cut melees. It purchases rough sapphires in bulk from commercial miners in Australia, and it intends to oversee each step of the process as the stones go from the miners-gate to the consumer as Reign Sapphire jewelry. It focuses on launching its jewelry collection through its Website, www.reignsapphires.com.
