Business Context and Reporting Period
This Form 8-K is filed by OCIS Corp. (referred to in metadata as ABVC BIOPHARMA, INC.) for the reporting period of January 2, 2006. The company is incorporated in Nevada and maintains its principal executive offices in Salt Lake City, Utah. The filing addresses a change in the company's principal certifying accountant.
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 the auditing firm.
Material Changes
- Accountant Change: On or about January 1, 2006, the company terminated its engagement with Child, Sullivan & Company due to the firm's conversion from a corporation to a professional limited liability company named Child, Van Wagoner & Bradshaw, PLLC.
- New Engagement: The company engaged Child, Van Wagoner & Bradshaw, PLLC as its principal accountant for the fiscal year ending December 31, 2005, and subsequent interim periods.
- Approval: The change was approved by the Audit Committee and the Board of Directors.
Outlook, Risks, and Commentary
- Audit History: Reports from the former accountant for the past two years did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or principles, with the exception of a "going concern" paragraph in the report for the fiscal year ended December 31, 2004.
- No Disagreements: There were no disagreements between the company and the former accountant regarding accounting principles, practices, or audit scope.
- Internal Controls: The former accountant did not advise the company that internal controls were insufficient or that they were unwilling to rely on management's representations.
- Successor Consultation: The company did not consult the new accounting firm regarding accounting principles or audit opinions during the two most recent fiscal years prior to engagement.
Key Facts for Investor Verification
- Verify the company's current legal name, as the filing header lists "OCIS Corp." while metadata references "ABVC BIOPHARMA, INC."
- Confirm the status of the "going concern" qualification noted in the 2004 audit report and whether it has been resolved in the 2005 financial statements.
- Review the letter from Child, Sullivan & Company (Exhibit 16.1) for any additional context regarding the transition.
- Check subsequent filings for the 2005 audited financial statements prepared by the new firm, Child, Van Wagoner & Bradshaw, PLLC.