SUNDANCE STRATEGIES, INC. (OTCMKTS:SUND) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01. Change in Registrant's Certifying Accountant.
By letter dated January 16, 2018, the independent registered public accounting firm, BDO USA, LLP ("BDO"), of Sundance Strategies, Inc. (the "Company") has indicated that it will not stand for re-election after completion of the audit of the Company's consolidated financial statements for the year ended March 31, 2017.
BDO was engaged by the Company on July 26, 2016. From March 29, 2013 through July 26, 2016, the Company's independent registered public accounting firm was Mantyla McReynolds, LLC, whose partners joined BDO on July 1, 2016. BDO has not issued any reports on the Company's financial statements during the past two years, including March 31, 2017.
The Company's two most recently completed fiscal year audits were audited by other auditors. From the date of BDO's engagement on July 26, 2016 through the date of the filing of this Form 8-K, there have been no disagreements between the Company and BDO on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of BDO, would cause BDO to make reference to the subject matter of the disagreements in connection with BDO's report on the Company's financial statements.
From the date of BDO's engagement on July 26, 2016 through the date of the filing of this Form 8-K, there were no reportable events, as that term is described in Item 304(a)(1)(v) of Regulation S-K, except with respect to material weaknesses in the Company's internal controls over financial reporting as disclosed in the Form 10-Q for the quarter ended December 31, 2016.
The Company's Board of Directors supports BDO not standing for re-election after the completion of the audit and will immediately transition to another independent registered public accounting firm.
The Company has furnished to BDO a copy of the disclosures made herein. BDO has furnished a letter indicating that it agrees with the disclosures made herein.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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Exhibit Number |
Description |
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Letter of BDO USA, LLP, dated January 22, 2018, regarding change in independent registered public accounting firm |
Sundance Strategies, Inc. ExhibitEX-16.1 2 ex16_1.htm LETTER OF BDO USA,…To view the full exhibit click here
About SUNDANCE STRATEGIES, INC. (OTCMKTS:SUND)
Sundance Strategies, Inc., formerly Java Express, Inc., is a specialty financial services company. The Company is engaged in the business of purchasing or acquiring and selling life insurance policies and residual interests in or financial products tied to life insurance policies, including notes, drafts, acceptances, open accounts receivable and other obligations representing part or all of the sales price of insurance, life settlements and related insurance contracts being traded in the secondary marketplace, referred to as the life settlements market. The Company is focused on the purchase and sale of net insurance benefit contracts (NIB) based on life insurance policies. The Company does not take possession or control of the policies. The Company does not purchase or hold life insurance policies but, rather, holds a contractual right to receive the NIBs, from a portfolio of life insurance policies held by a third-party.
