SECURITY DEVICES INTERNATIONAL, INC. (OTCMKTS:SDEV) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01 Change in Registrant’s Certifying Accountant
(a) |
Resignation of Independent Registered Public Accounting Firm |
Schwartz Levitsky Feldman LLP (“Schwartz”), the Company’s independent registered public accounting firm, resigned as the Company’s auditors by letter dated November 30, 2017. A copy of Schwartz’s resignation letter is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The reports of Schwartz on the Company’s financial statements for the two most recent fiscal years ended November 30, 2016 and 2015 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles, other than a “going concern” qualification. During the Company’s two most recent fiscal years ended November 30, 2016 and 2015 and during the subsequent interim period preceding Schwartz’s resignation, there were: (i) no disagreements with Schwartz on any matter of accounting principles or practices, financial statement disclosures or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Schwartz would have caused Schwartz to make reference to the subject matter of the disagreements in connection with its reports, and (ii) no reportable events of the type listed in paragraphs (A) through (D) of Item 304(a)(1)(v) of Regulation S-K. Schwartz also has confirmed the above statements to the Company’s successor independent auditor in a letter dated December 1, 2017 which is attached as Exhibit 99.2 to this Current Report on Form 8-K.
The Company provided Schwartz with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission (the “SEC”) and requested that Schwartz furnish the SEC with a letter to the SEC stating whether or not Schwartz agrees with the above statements. Schwartz has provided such a confirming letter dated December 1, 2017 and it is attached as Exhibit 99.3 to this Current Report on Form 8-K.
(b) |
Engagement of New Independent Registered Public Accounting Firm |
Following the resignation of Schwartz, the Company’s Audit Committee met on December 1, 2017 and selected McGovern Hurley LLP of Toronto, Ontario. The Company’s Board of Directors confirmed the appointment and nominated McGovern Hurly LLP for ratification by shareholders of the Company as the Company’s independent auditors in the next fiscal year ending November 30, 2017.
Item 9.01 Financial Statements and Exhibits
(a) Financial Statements of Business Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Shell Company Transaction.
Not applicable.
(d) Exhibits.
Exhibit 99.3 |
Letter of Schwartz Levitsky Feldman LLP dated December 1, 2017
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Security Devices International Inc. ExhibitEX-99.1 2 a51724159ex99_1.htm EXHIBIT 99.1 Exhibit 99.1 Schwartz Levitsky Feldman llp CHARTERED ACCOUNTANTS LICENSED PUBLIC ACCOUNTANTS TORONTO • MONTREAL November 30,…To view the full exhibit click here
About SECURITY DEVICES INTERNATIONAL, INC. (OTCMKTS:SDEV)
Security Devices International, Inc. (SDI) is a less-lethal defense technology company. The Company’s segments include the U.S.A. and Canada. It is specialized in the development, manufacturing and sale of next generation less-lethal ammunition. This ammunition is used by the military, correctional services and police agencies for crowd control. SDI’s 40 millimeter (mm) less-lethal weapon technology can be used over both short, as well as long distances. The Company has two products, which include Blunt Impact Projectile 40 millimeter (BIP) and Wireless Electric Projectile 40 millimeter (WEP). Its BIP family of ammunitions include BIP (Standard); BIP MP: Marking Powder; BIP ML: Marking Liquid; BIP OC: Oleoresin Capsicum; BIP MO: Malodorant; BIP DNA: Forensic Marking; BIP CS: Tear Gas Powder, and BIP TR: Training Round. The Company offers SDI Instructor Training Course, which provides professionally skilled instructors in less-lethal training.