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In a recent regulatory filing, Zhen Ding Resources Inc. (OTC US:RBTK), a metal mining company, announced the dismissal of its previous independent registered public accounting firm, TPS Thayer, LLC, effective January 26, 2025. The company has appointed HTL International, LLC as its new auditor.
The decision to change auditors was approved by the company's sole director. According to the 8-K filing with the Securities and Exchange Commission, the financial statements for the years ended December 31, 2023, and 2022, audited by TPS Thayer, did not contain any adverse opinions or disclaimers. However, the reports included explanatory paragraphs concerning the company's ability to continue as a going concern.
Zhen Ding Resources noted that during the fiscal years of 2023 and 2022, there were no disagreements with TPS Thayer on accounting principles, practices, financial statement disclosure, or auditing scope or procedure that would have warranted mention in TPS Thayer's reports. The only issues highlighted were material weaknesses related to account reconciliations and the precision and accuracy needed to reflect properly in the financial statements.
Upon dismissal, Zhen Ding Resources provided TPS Thayer with the disclosures regarding their termination and requested a letter from TPS Thayer to the SEC to confirm their agreement with the disclosures. This letter is included as an exhibit to the 8-K filing.
The company has not consulted with HTL International on any accounting principles, transactions, or disagreements in the two most recent fiscal years and through to December 31, 2024.
This management change comes at a time when Zhen Ding Resources continues to face uncertainties related to its financial sustainability. The information for this article is based on a press release statement.
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