UPD HOLDING CORP. (OTCMKTS:ESWB) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01 Changes in Registrant’s Certifying Accountant.
(a) On September 11, 2019 , UPD Holdings, Inc. (the “Company”) dismissed its principal independent accountant, Malone Bailey, LLP (“MB”). MB’s dismissal as the Company’s principal independent accountant was approved by the Company’s Board of Directors.
The reports of MB on the Company’s financial statements for the fiscal years ended June 30, 2017 and 2016 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to certainty, audit scope, or accounting principles, except the report did contain an explanatory paragraph related to the Company’s ability to continue as a going concern. During the Company’s fiscal years ended June 30, 2017 and 2016 and the subsequent periods through the date of this Current Report on Form 8-K, there were (i) no disagreements with MB 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 MB would have caused MB to make reference to the subject matter of the disagreements in connection with its report, and (ii) no “reportable events”, as that term is defined in Item 304(a)(1)(v) of Regulation S-K. MB did advise the registrant that the internal controls necessary for the registrant to develop reliable financial statements do not exist.
The Company provided MB with a copy of the disclosures made in this Current Report on Form 8-K and requested that MB furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the Company’s statements herein and, if not, stating the respects in which it does not agree. A copy of the letter furnished by MB is attached as Exhibit 16.1 hereto.
On September 11, 2019 the Company engaged WSRP, LLP (“WSRP”) at its principal independent accountant to audit the Company’s financial statements. During 2017 and 2016 and any subsequent interim period prior to engaging WSRP, the Company did not consult with WSRP on any accounting, auditing or financial reporting issue.
The Company has provided WSRP with a copy of the disclosures made in this Current Report on Form 8-K and provided WSRP the opportunity to furnish the Company with a letter addressed to the Commission containing any new information, clarification of the Company’s expression of its views, of the respects in which it does not agree with the statements made by the Company is this Current Report on Form 8-K.
Section 9 – Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
16.1 Letter to the Commission from Malone Bailey, LLP.
UPD HOLDING CORP. Exhibit
EX-16.1 2 ex16_1.htm EXHIBIT 16.1 Exhibit 16.1 October 17,…
To view the full exhibit click here
About UPD HOLDING CORP. (OTCMKTS:ESWB)
UPD Holding Corp., formerly Esio Water & Beverage Development Corp., is the parent company of its subsidiaries, United Product Development Corp. (UPDC) and iMetabolic Corp. (IMET). IMET is engaged in marketing products under the brand iMetabolic. IMET has developed four products to be marketed: iMetabolic Catalyst, iMetabolic Mini-Meal, iMetabolic Multi-Pro and iMetabolic BittX. iMetabolic Catalyst focuses on providing vitamins and plant compounds that are necessary to aid in metabolic functions. Such ingredients include B-Complex Vitamins, as well as Green Tea Extract and Resveratrol (polyphenols). iMetabolic Mini-Meal focuses on providing the essential whey protein isolate intake for a person who is on a four-to-five meal per day diet or needs a snack. iMetabolic Multi-Pro focuses on providing vitamins and minerals that are marketed as multi-vitamin supplements. iMetabolic BittX reforms the body’s disposition toward bitter foods in a subtle, inoffensive way.
