TALON REAL ESTATE HOLDING CORP. (OTCMKTS:TALR) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01. Changes in Registrant’s Certifying Accountant.
On November 21, 2017, Talon Real Estate Holding Corporation (the “Company”), received notice from Baker Tilly Virchow Krause, LLP (“BT”) they resigned as the Company’s independent registered public accounting firm effective November 20, 2017.
BT’s accountants’ reports for the years ended December 31, 2015 and 2014 did not contain an adverse opinion or disclaimer of opinion, however, those reports were modified as to uncertainty about the Company’s ability to continue as a going concern.
During 3rd Quarter 2017 the Company, began a process to select a new independent registered public accounting firm as the Company’s auditor, an action which was ratified by the Board of Directors.
During the fiscal years ended December 31, 2015 and 2014 and subsequent interim periods ending March 31, 2016, June 30, 2016 and September 30, 2016 preceding BT’s resignation, there were no disagreements with BT on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures. BT have not completed any audits of annual periods or performed any reviews of interim or annual periods as of any date or for any periods subsequent to September 30, 2016.
Prior to the date of this filing, BT advised management and members of the audit committee of the Company of a material weakness in the Company’s internal control over financial reporting related to the Company’s ability to execute a timely and accurate close of its 2016 financial statements and a material weakness related to the Company’s failure to follow policies and procedures related to timely communication, monitoring and approvals of material contracts and agreements, indebtedness, commitments and contingencies, and related party transactions for timely evaluation and disclose in the Company’s financial statements.
Due to the material weaknesses reported relating to the 2016 financial statements, management performed additional analysis and procedures to ensure that the Company’s consolidated financial statements and schedules that will be included in 2016 Annual Report were presented fairly in conformity with generally accepted accounting principles and fairly present in all material respects the Company’s financial position, results of operations and cash flows for the periods presented.
Item 9.01. Exhibits.
(d) Exhibits
16.1
Letter from Baker Tilly Virchow Krause, LLP
TALON REAL ESTATE HOLDING CORP. Exhibit…To view the full exhibit click here
About TALON REAL ESTATE HOLDING CORP. (OTCMKTS:TALR)
Talon Real Estate Holding Corp. is a real estate investment company focused on investing in office, industrial and retail properties located in the Midwest and South Central regions of the United States. The Company focuses on properties located in the area bounded by Minnesota to the north and Texas to the south, and by Illinois to the east and Colorado to the west. All of its assets are held by, and its operations are conducted through Talon OP, L.P., which it refers to as its Operating Partnership. The Company is the sole general partner of the Operating Partnership, and it has the power to manage and conduct the business and affairs of the Operating Partnership. The Operating Partnership holds its portfolio of commercial properties. It focuses on providing investors the opportunity to have liquidity with real estate exposure in a diversified portfolio with asset allocation. It owns over four properties located in and around the Minneapolis-St. Paul metropolitan area of Minnesota.