SEC Filing Summary: OCIS, Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report (Form 8-K) was filed by OCIS, Inc., a Nevada corporation, on September 22, 2003. The report addresses a change in the registrant's certifying accountant. The company's principal executive office is located in Salt Lake City, Utah.
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 auditor change and related disclosures.
Material Changes
- Change in Auditor: OCIS, Inc. was informed by its auditor, David T. Thomson, P.C., that the firm would no longer be engaged in auditing public companies.
- Replacement Timeline: The company is in the process of retaining a new auditor for the fiscal year ending December 31, 2003, and for quarterly review work. A new auditor is anticipated to be in place by the end of October 2003.
- Disagreements: OCIS reported no disagreements with David T. Thomson, P.C. regarding accounting principles, financial statement disclosures, or auditing scope/procedures.
Outlook, Risks, and Unusual Items
- Going Concern Uncertainty: The audit opinion issued by David T. Thomson, P.C. for the fiscal year ended December 31, 2002, included an explanatory paragraph discussing uncertainty regarding the registrant's ability to continue as a going concern.
- Internal Controls: The former auditor expressed no concerns regarding OCIS's internal accounting controls or management matters.
- Exhibits: The filing includes a letter from David T. Thomson, P.C. confirming their agreement with the disclosure statements.
Investor Verification Checklist
- Verify the identity and qualifications of the newly retained auditor expected to be in place by October 2003.
- Review the full text of the letter from David T. Thomson, P.C. attached as Exhibit 16.01.
- Assess the current status of the "going concern" uncertainty noted in the 2002 audit opinion.
- Confirm the company's progress in securing the new auditor to ensure timely review of the September 30, 2003 quarterly report.