SEC Filing Summary: Form 8-K
Business Context and Reporting Period
This Current Report (Form 8-K) is filed by Segmentz, Inc. (also referred to as TransLogistics, Inc.), a Delaware corporation. The report covers events occurring on February 11, 2002, with the filing date of February 28, 2002. The primary purpose of this filing is to disclose a change in the company's certifying accountant.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the audit function rather than financial performance data.
Material Changes
- Resignation of Former Auditor: ValienteHernandez P.A. resigned as the company's outside auditors on February 11, 2002. They had served as auditors from the company's inception through the date of resignation.
- Appointment of New Auditor: The Board of Directors appointed Pender, Newkirk & Company as the new outside auditors.
- Audit Scope: Pender, Newkirk & Company is expected to audit the financial statements for the period ended December 31, 2001. No financial statements for the year ended December 31, 2001, were audited by the former firm.
Management Commentary, Risks, and Contingencies
- No Disagreements: The company states there were no disagreements with ValienteHernandez P.A. regarding accounting principles, financial statement disclosure, or auditing scope/procedures during the two most recent fiscal years or subsequent interim periods.
- Opinion Status: The former auditor's report for the fiscal year ended December 31, 2000, did not contain an adverse opinion and was not qualified or modified regarding uncertainty, audit scope, or accounting principles.
- Consultation: Prior to engagement, the company consulted with Pender, Newkirk & Company regarding qualifications. No substantive discussions occurred regarding specific transactions or the type of audit opinion to be rendered.
- Confirmation: ValienteHernandez P.A. provided a letter (Exhibit 16.01) stating they do not object to the company's statements. Pender, Newkirk & Company reviewed the filing and has no basis to submit a letter to the SEC.
Key Facts for Investor Verification
- Verify the reason for the resignation of ValienteHernandez P.A., as the filing explicitly states no disagreements occurred.
- Confirm the qualifications and independence of the new auditor, Pender, Newkirk & Company.
- Note that the most recent audited financial statements available are for the fiscal year ended December 31, 2000; the 2001 statements are pending audit by the new firm.
- Review the attached Exhibit 16.01 for the former auditor's formal confirmation of the lack of disagreements.