Business Context and Reporting Period
This Form 8-K is filed by Millennium Quest, Inc. (noted as Planet Green Holdings Corp. in metadata) for the reporting period of November 14, 2005. The filing addresses a change in the company's independent certifying accountant.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the administrative change of auditors.
Material Changes
- Resignation of Prior Auditor: Pritchett, Siler & Hardy, P.C. ("PSH") resigned as the company's auditors on November 14, 2005, citing partner rotation rules under SEC regulations.
- Appointment of New Auditor: The Board of Directors appointed Michael J. Larsen, LLC ("Larsen") as the new independent certified public accountants, effective November 14, 2005.
- Audit History: PSH's reports for fiscal years ending December 31, 2004, and 2003, did not contain adverse opinions or disclaimers. However, they included an explanatory paragraph regarding uncertainty about the company's ability to continue as a going concern.
- Disagreements: There were no disagreements or reportable events between the company and PSH regarding accounting principles, practices, or auditing scope.
Outlook, Risks, and Unusual Items
Going Concern Risk: The filing explicitly notes that the prior auditor's reports contained an explanatory paragraph concerning the uncertainty of the company's ability to continue as a going concern.
Consultation History: Michael J. Larsen was an accountant with PSH until October 7, 2005. Since his departure, neither the company nor its representatives consulted with Larsen regarding accounting or auditing issues, including the type of audit opinion to be rendered.
Investor Verification Checklist
- Verify the status of the "going concern" uncertainty noted in the 2003 and 2004 audit reports.
- Confirm the independence and qualifications of the new auditor, Michael J. Larsen, LLC.
- Review the attached letter from PSH (Exhibit 16.1) for any clarifications or disagreements not detailed in the main text.
- Monitor future filings for the first audit opinion issued by the new accounting firm.