TERRA TECH CORP. (OTCMKTS:TRTC) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrants Certifying Accountant.
(a) Dismissal of Accountant
On November 22, 2016 Terra Tech Corp. (the Company) dismissed
Tarvaran, Askelson Company (TAC) as the Companys independent
registered public accounting firm. The decision to change
registered public accounting firms was approved by the Audit
Committee of the Companys Board of Directors.
The audit reports by TAC on the financial statements of the
Company as of and for the years ended December 31, 2015 and
December 31, 2014, did not contain an adverse opinion or
disclaimer of opinion, and was not modified or qualified as to
uncertainty, audit scope or accounting principles. During the
Companys two most recent fiscal years ended December 31, 2015 and
through the subsequent interim period through November 22, 2016,
there were no (1) disagreements (as described in Item
304(a)(1)(iv) of Regulation S-K) between the Company and TAC 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 TAC, would
have caused TAC to make reference to the subject matter of the
disagreements in connection with its reports on the consolidated
financial statements for such fiscal years, or (2) reportable
events as set forth in Item 304(a)(1)(v) of Regulation S-K,
except that TAC advised the Company of material weaknesses
involving internal controls and procedures related to (i) a lack
of a majority of independent members and a lack of a majority of
outside directors on the Companys Board, resulting in ineffective
oversight in the establishment and monitoring of required
internal controls and procedures; and (ii) inadequate segregation
of duties consistent with control objectives.
The Company provided TAC 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 TAC furnish a letter
addressed to the SEC stating whether or not TAC agrees with the
statements noted above. A copy of the responsive letter, dated
November 22, 2016, from TAC, is attached hereto as Exhibit 16.1.
(b) Engagement of New Accountant
The Company has engagedMacias Gini OConnellLLP (MGO) as its
registered public accounting firm, effective November 22, 2016.
The decision to appoint MGO as the new registered public
accounting firm was approved by the Audit Committee of the
Companys Board of Directors.
During the Companys two most recent fiscal years and through
November 22, 2016, neither the Company nor anyone on its behalf
consulted with MGO with respect to any of (i) the application of
accounting principles to a specified transaction, either
completed or proposed or the type of audit opinion that might be
rendered on the Companys financial statements; or (ii) any matter
that was either the subject of a disagreement (as defined in Item
304(a)(1)(iv) of Regulation S-K) or an event of the type
described in Item 304(a)(1)(v) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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16.1 |
Letter from Tarvaran, Askelson Company to the Securities |
About TERRA TECH CORP. (OTCMKTS:TRTC)
Terra Tech Corp. is a cannabis-focused agriculture company. The Company operates through two segments: Hydroponic Produce and Cannabis Products. The Company, through its subsidiary, GrowOp Technology Ltd., is engaged in the design, marketing and sale of hydroponic equipment. It is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corp. (Edible Garden). It intends to operate medical marijuana cultivation, production and dispensary facilities in Nevada through its subsidiaries, MediFarm, LLC (MediFarm), MediFarm I, LLC (MediFarm I) and MediFarm II, LLC (MediFarm II). Through its subsidiary, IVXX, Inc. (IVXX), it produces and sells a line of cannabis flowers and cigarettes, among others. The hydroponic produce segment consists of Edible Garden’s business and operations. Its cannabis products segment consists of IVXX’s business, as well as the proposed business operations of MediFarm, MediFarm I and MediFarm II. TERRA TECH CORP. (OTCMKTS:TRTC) Recent Trading Information
TERRA TECH CORP. (OTCMKTS:TRTC) closed its last trading session down -0.056 at 0.265 with shares trading hands.