SEC Filing Summary: SMSA Ballinger Acquisition Corp.
Business Context and Reporting Period
This Form 8-K was filed by SMSA Ballinger Acquisition Corp. (not Realloys Inc.) on July 9, 2015, reporting events occurring on July 3, 2015. The registrant is a Nevada corporation headquartered in Frisco, Texas. The filing primarily addresses a change in the company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the current period. However, it notes that the former auditor, DKM Certified Public Accountants, issued reports for the years ended December 31, 2013, and 2014, which included an indication of substantial doubt about the company's ability to continue as a going concern.
Material Changes
- Resignation of Former Auditor: DKM Certified Public Accountants resigned as the independent registered public accounting firm effective July 3, 2015, citing a withdrawal from practice before the SEC.
- Engagement of New Auditor: On July 7, 2015, the company engaged Stevenson & Company as its new independent registered public accounting firm to audit financial statements for the year ended December 31, 2015.
- Audit History: There were no disagreements with DKM regarding accounting principles, practices, or audit scope during the years ended December 31, 2013 and 2014, or through July 3, 2015.
Outlook, Risks, and Management Commentary
The Board of Directors approved the decision to change accounting firms. The former auditor, DKM, concurred with the company's disclosure statements regarding the change. The filing highlights the historical "substantial doubt" regarding the company's ability to continue as a going concern as noted in prior audit reports. No specific forward-looking guidance or new risk factors were disclosed in this report.
Key Facts for Investor Verification
- Verify the identity of the registrant as SMSA Ballinger Acquisition Corp., distinct from Realloys Inc.
- Confirm the status of the "substantial doubt" regarding the company's ability to continue as a going concern noted in 2013 and 2014 audits.
- Review the engagement letter and scope of work with the new auditor, Stevenson & Company.
- Check for subsequent filings to determine if the company has secured financing or operational milestones to address the going concern issue.