Corporate Filing
WELWIND ENERGY INTERNATIONAL CORP Files SEC form 8-K, Changes in Registrant's Certifying Accountant, Financial Statements
14-May-2008
Changes in Registrant's Certifying Accountant, Financial Statements
Item 4.01. Change in Registrant's Certifying Accountant.
On May 9, 2008, the Board of Directors of Welwind Energy International Corp. (the "Registrant") dismissed Manning Elliott, LLP, Chartered Accountants ("MECA") as the independent auditors for the Registrant.
During the fiscal years ended December 31, 2007 and 2006 and the subsequent interim period up through the date of termination (May 9, 2008), there were no disagreements with MECA 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 MECA, would have caused MECA to make reference thereto in its report on the Registrant's financial statements for such years. Further, there were no reportable events as described in Item 304(a)(1)(iv)(B) of Regulation S-B occurring within the Registrant's two most recent fiscal years and the subsequent interim period up through the date of termination (May 9, 2008).
The audit report of MECA for the financial statements of the Registrant as of December 31, 2007, contained a separate paragraph stating:
"The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has incurred significant operating losses. The Company will need additional equity/debt financing to sustain operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also discussed in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty."
The audit report of MECA for the financial statements of the Registrant as of December 31, 2006, contained a separate paragraph stating:
"The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 1 to the consolidated financial statements, the Company has incurred significant operating losses. The Company will need additional equity/debt financing to sustain operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also discussed in Note 1. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. "
During the Registrant's two most recent fiscal years and the subsequent interim period up through the date of this Report, neither the Registrant nor anyone on its behalf consulted with any other independent auditor regarding the application of accounting principles to a specific, completed or contemplated transaction, or the type of audit opinion that might be rendered on the Registrant's financial statements. Further, no other independent auditor has provided written or oral advice to the Registrant that was an important factor considered by the Registrant in reaching a decision as to any accounting, auditing or financial reporting issues during the period that MECA served as the Registrant's independent auditor.
The Registrant provided a copy of the foregoing disclosures to MECA prior to the date of the filing of this report and requested that MECA furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements in this Report. A copy of the letter furnished in response to that request is filed as Exhibit 16.1 to this Form 8-K.
On May 9, 2008, the Registrant's Board of Directors approved the appointment of Moore & Associates, Chartered ("Moore") as the Company's independent auditor.
The Company has not consulted with Moore regarding the application of accounting principles to a specified transaction or the type of audit opinion that might be rendered on the Company's financial statements during the two most recent fiscal years through present.
Item 9.01 Financial Statements and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Not applicable
(d) Exhibits.
Exhibit No. Description
16.1 Letter of Agreement from Manning Elliott, LLP, Chartered Accountants
ABOUT WELWIND
Welwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations.
Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company’s goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, which are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, risks set forth in documents filed by the company from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by, or on behalf of, the Company, are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
Contact:
Welwind Energy International Corp.
tel: 604-460-8487
tf: 866-677-2272
info@welwind.com
www.welwind.com
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