Item 4.01 Changes in Company's Certifying Accountant.
On October 10, 2022, Alex Mannine, the CEO of Vynleads, Inc. (the "Company")
received an email from Derek M. Webb, CPA, a partner at Liggett & Webb P.A.
("L&W") and the Company's auditor informally resigning as the Company's
independent registered public accounting firm.
On November 15, 2022, L&W informed the Company of their formal resignation as
the Company's independent registered public accounting firm.
The accounting reports of L&W on the Company's December 31, 2021 and 2020
consolidated financial statements did not contain any adverse opinion or
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principle, except that each report on the Company's
consolidated financial statements contained an explanatory paragraph regarding
the Company's ability to continue as a going concern based on the Company's
significant working capital deficiency, significant losses and needs to raise
additional funds.
During the previous year's December 31 and 2020 audits and subsequent interim
period through November 15, 2022, the effective date of L&W's resignation, there
were (i) no disagreements (as that term is defined in Item 304(a)(1)(iv) of
Regulation S-K and the related instructions) between the Company and L&W on any
matter of accounting principles or practices, financial statement disclosure, or
auditing scope or procedure, which, if not resolved to the satisfaction of L&W
would have caused the L&W to make reference thereto in its reports on the
consolidated financial statements of the Company for such years, and (ii) no
"reportable events" (as that term is defined in Item 304(a)(1)(v) of Regulation
S-K).
The Company provided L&W with a copy of the disclosures it is making in this
Current Report on Form 8-K (the "Report") prior to the time the Report was filed
with the Securities and Exchange Commission (the "SEC"). The Company requested
that L&W furnish a letter addressed to the SEC stating whether or not it agrees
with the statements made herein. A copy of L&W's letter, dated November 18,
2022, is attached hereto as Exhibit 16.1.
New Independent Registered Public Accounting Firm
As this information was received, the Company and its Board of Directors
discussed alternative auditors, but eventually agreed and engaged ASSURANCE
DIMENSIONS CERTIFIED PUBLIC ACCOUNTANTS & ASSOCIATES ("ASSURANCE") on October
20, 2022.
During the two most recent fiscal years and through the Engagement Date, the
Company did not consult with ASSURANCE regarding either:
1. application of accounting principles to any specified transaction,
either completed or proposed, or the type of audit opinion that might
be rendered on the Company's financial statements, and neither a
written report was provided to the Company nor oral advice was
provided that ASSURANCE concluded was an important factor considered
by the Company in reaching a decision as to the accounting, auditing
or financial reporting issue; or
2. any matter that was either the subject of a disagreement (as defined
in Regulation S-K, Item 304(a)(1) (iv) and the related instructions)
or reportable event (as defined in Regulation S-K, Item 304(a)(1)(v)).
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
16.1 Letter of Liggett & Webb P.A. dated November 18, 2022 to the SEC
regarding statements included in this Form 8-K.
104 Cover Page Interactive Data File (formatted as Inline XBRL and
contained in Exhibit 101)
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