Item 4.02 Non-Reliance On Previously Issued Financial Statements Or A Related Audit Report Or Completed Interim Review.
(b) OnJune 19, 2020 ,Vortex Blockchain Technologies, Inc. ("Vortex" or "the Company") was advised byM&K CPAS, PLLC ("M&K"), the Company's independent registered public accounting firm, that a restatement of its previously issued financial statements contained in the Company's Quarterly and Annual Reports on Forms 10-Q and 10-K for the periods endedDecember 31, 2018 throughDecember 31, 2019 , would be required, to correct the presentation and classification of certain depreciable assets and equity, and that required audited year end reports erroneously filed as unaudited.
The Company intends to file amendments to the reports covering the periods from
The restatements are not expected to have a significant impact on the financial
statements for the current year ended
Management evaluated its prior conclusions regarding the effectiveness of the Company's disclosure control and procedures and internal control over financial reporting. Based on that evaluation, management has concluded that this matter resulted from a material weakness in the Company's internal control over financial reporting. As a result of the material weakness, the Company has concluded that its internal control over financial reporting and its disclosure controls and procedures were ineffective as of the periods referenced above. Promptly following the identification of the material weakness in internal control over financial reporting as described above, management hired an independent accountant to begin taking steps to remediate the material weakness.
Management and the Company's accountant have consulted M&K regarding the matters disclosed in this Form 8-K in reaching the conclusion to restate the Financial Statements for the above noted periods.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit 7.1 Non reliance letter from
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
By: ______________________Craig Bergman Chief Executive Officer 2
© Edgar Online, source