SALON MEDIA GROUP, INC. (OTCMKTS:SLNM) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01Changes in Registrant’s Certifying Accountant.
Previous independent registered public accounting firm
On March 12, 2019, our board of directors resolved to dismiss BPM LLP as our independent accountants (which dismissal was communicated to BPM LLP on April 5, 2019), and we have engaged M&K CPAS, LLC. as our independent registered public accounting firm.
The reports of BPM LLP on our financial statements for the fiscal years ended March 31, 2017 and 2016 did not contain an adverse opinion or a disclaimer of opinion, nor were such reports qualified or modified as to uncertainty, audit scope or accounting principles, except that the accountant’s reports of BPM LLP on our financial statements as of and for the fiscal years ended March 31, 2017 and 2016 stated that we have suffered recurring losses and negative cash flows from operations and have an accumulated deficit, and that these conditions raise substantial doubt about our ability to continue as a going concern.
The decision to change accountants from BPM LLP to M&K CPAS, LLC was approved by our board of directors.
During our fiscal years ended December 31, 2016 and 2017 and the subsequent interim period through March 12, 2019, the date of the dismissal of BPM LLP, we did not have any disagreement with BPM LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
During that time, there were no “reportable events” as set forth in Item 304(a)(1) of Regulation S-K adopted by the Securities and Exchange Commission, except that the accountant’s reports of BPM LLP on our financial statements as of and for the fiscal years ended March 31, 2016 and 2017 stated that we have suffered recurring losses and negative cash flows from operations and have an accumulated deficit, and that these conditions raise substantial doubt about our ability to continue as a going concern.
Our board of directors have discussed these matters with BPM LLP, and we have authorized BPM LLP to respond fully to the inquiries of our successor accountant, M&K CPAS, LLC, concerning these matters.
We have provided BPM LLP with a copy of this report prior to its filing with the Commission. BPM LLP has provided a letter to us, dated April 8, 2019 and addressed to the Commission, which is attached hereto as Exhibit 16.1 and is hereby incorporated herein by reference.
New independent registered public accounting firm
On March 12, 2019, we engaged M&K CPAS, LLC. as our independent registered public accounting firm for our fiscal year ended March 31, 2019. The decision to engage M&K CPAS, LLC as our independent registered public accounting firm was approved by the our board of directors.
During the two most recent fiscal years and through the March 12, 2019, we have not consulted with M&K CPAS, LLC. regarding either of the following:
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the application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on our financial statements, and neither a written report was provided to us nor oral advice was provided that M&K CPAS, LLC concluded was an important factor considered by us in reaching a decision as to the accounting, auditing or financial reporting issue; or |
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any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of Regulation S-K and the related instructions thereto) or a reportable event (as described in paragraph (a)(1)(v) of Item 304 of Regulation S-K). |
Item 9.01. Financial Statements and Exhibits
SALON MEDIA GROUP INC Exhibit
EX-16.1 2 ex_140137.htm EXHIBIT 16.1 ex_140137.htm EXHIBIT 16.1 April 8,…
To view the full exhibit click here
About SALON MEDIA GROUP, INC. (OTCMKTS:SLNM)
Salon Media Group, Inc. (Salon) is an Internet media company that produces a content Website with various subject-specific sections. The Company’s Website, www.salon.com, Website covers a range of topics, including news, politics, arts and culture, life, sustainability and innovation, technology and business. The Company has a suite of advertisement products that includes its homepage spotlight, which features custom content in-stream in its editorial news feed, advertiser-sponsored articles and content verticals, custom Website skins that can overlay an advertisement onto the background of its Website, pushdowns that temporarily move the editorial content below an advertisement, while it is being served, video overlays and in-stream video modules, a multi-media content module and a social feed module. Its users engage with the Website through desktop computers, mobile phones and social networking platforms and other referral partners.