UNITED-GUARDIAN, INC. (NASDAQ:UG) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrant’s Certifying Accountant
(a) Dismissal of Certifying Accountant
On March 21, 2019, as directed and approved by the Audit Committee of the Registrant’s Board of Directors, the Registrant formally dismissed Raich Ende Malter & Co. LLP (“Raich”) as the Registrant’s independent accountant.
The audit reports of Raich on the Registrant’s financial statements for the years ended December 31, 2018 and 2017, did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principle. During the Registrant’s two most recent fiscal years ended December 31, 2018 and 2017, there have been no disagreements, within the meaning of Item 304(a)(1)(iv) of RegulationS-Kpromulgated under the Exchange Act (“RegulationS-K”) and the related instructions thereto, with Raich 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 Raich, would have caused it to make reference to the subject matter of the disagreements in connection with its report. Also during this same period, there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K, and the related instructions thereto.
The Registrant provided a copy of this disclosure to Raich, and requested that Raich furnish the Registrant with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made by the Registrant and, if not, stating the respects in which it does not agree. A copy of Raich’s letter is included as Exhibit 16.1 to this report.
(b) Engagement of New Certifying Accountant
On March 25, 2019, as directed and approved by the Audit Committee of the Registrant’s Board of Directors, the Registrant formally retained Baker Tilly Virchow Krause, LLP (“Baker Tilly”) as the Registrant’s independent accountant, effective immediately.
During the two most recent fiscal years the Registrant has not consulted with Baker Tilly regarding either 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 financial statements of the Registrant, as well as any matters or reportable events described in Items 304(a)(2)(i) or (ii) of Regulation S-K.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits. The following exhibits are filed with this report:
| Exhibit Number | Description |
| 16.1 | Letter from Raich dated March 21, 2019 |
UNITED GUARDIAN INC Exhibit
EX-16.1 2 exh_161.htm EXHIBIT 16.1 Exhibit 16.1 March 21,…
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About UNITED-GUARDIAN, INC. (NASDAQ:UG)
United-Guardian, Inc. manufactures and markets cosmetic ingredients, personal care products, pharmaceuticals, medical lubricants, healthcare products and specialty industrial products. The Company also conducts research and product development, primarily related to the development of cosmetic and personal care products. Its research and development department also modifies, refines, and expands the uses for existing products. Its products are separated into approximately four distinct product categories, such as personal care products (including cosmetic ingredients), pharmaceuticals, medical products and industrial products. Its personal care products are marketed globally by approximately six marketing partners. The products are sold directly to marketing partners, which in turn resell those products to its customers for use in the manufacture or compounding of the customers’ personal care and cosmetic products.
