Item 8. Financial Statements and Supplementary Data
ITEM
8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Reference
is made to our consolidated financial statements, the notes thereto, and the report thereon, commencing on page F-1 of this Annual Report
on Form 10-K, which consolidated financial statements, notes, and report are incorporated herein by reference.
32
ITEM
9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
On May 9, 2024, the
Company dismissed BF Borgers CPA PC as the Company’s independent registered public accounting firm, effective immediately,
as a result of the entry of an order by the Securities and Exchange Commission (the “ Commission ”) on May 3, 2024 (the
“ Order ”), instituting settled administrative and cease-and-desist proceedings against BF Borgers CPA PC and its sole
audit partner Benjamin F. Borgers CPA (individually and together, “ BF Borgers ”). The Company’s Audit Committee
(the “ Committee ”) unanimously voted in favor of dismissal of BF Borgers and the Company’s Board of Directors
(the “ Board ”) agreed with such recommendation.
On May
10, 2024, after review and recommendation of the Committee, appointed Kreit & Chiu CPA LLP (“Kreit”) as the Company’s
new independent registered public accounting firm for and with respect to the year ending December 31, 2024.
On February
21, 2025, the Company dismissed Kreit & Chiu CPA LLP (“Kreit”) as the Company’s independent registered public
accounting firm. During the Company’s 2024 interim periods reviewed by Kreit through the date of the dismissal, the Company is of
the opinion that: there were no (a) disagreements with Kreit on any matter of accounting principles or practices, financial statement
disclosures, or auditing scope or procedure, which disagreements, if not resolved to Kreit’s satisfaction, would have caused Kreit
to make reference to the subject matter thereof; or (b) reportable events, as described under Item 304(a)(1)(v) of Regulation S-K.
On February
21, 2025, after review and recommendation of the Committee, the Company appointed Weinberg & Company, P.A., Certified Public Accountants
(“Weinberg”) as the Company’s new independent registered public accounting firm.
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