Business Context and Reporting Period
This Form 8-K is filed by Houston American Energy Corp. (not Abundia Global Impact Group, Inc.) with a report date of January 16, 2009. The filing discloses a change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity data. It is a current report focused solely on corporate governance and audit firm changes.
Material Changes
- Dismissal of Accountant: On January 16, 2009, the company dismissed Malone & Bailey, PC (M&B) as its independent registered public accounting firm.
- Appointment of New Accountant: On the same date, the company appointed GBH CPAs, PC (GBH) as its new independent certifying accountants.
- Audit Continuity: The audit partner assigned by GBH was previously the audit partner at M&B, which was cited as a significant factor in the decision to change firms.
Management Commentary, Risks, and Contingencies
- Reason for Change: The decision was recommended and approved by the audit committee and board of directors.
- Disagreements: The company reported no disagreements with M&B regarding accounting principles, practices, financial statement disclosure, or auditing scope during the two most recent fiscal years or subsequent interim periods.
- Material Weaknesses: M&B had previously advised the company of material weaknesses in internal control over financial reporting as of December 31, 2007. Further details are referenced in the company's amended Form 10-K/A for that year.
- Consultations: The company did not consult with GBH regarding accounting principles, disagreements, or the type of audit opinion prior to engagement.
Investor Verification Checklist
- Verify the details of the material weaknesses in internal controls disclosed in the amended Form 10-K/A for the year ended December 31, 2007.
- Review the letter from Malone & Bailey, PC (Exhibit 16.1) to confirm their agreement with the company's disclosures regarding the change.
- Confirm the qualifications and independence of the new firm, GBH CPAs, PC.
- Monitor future filings for any impact of the accounting firm change on the audit opinion for the 2008 fiscal year.