Business Context and Reporting Period
This Form 8-K is filed by Global Yacht Services, Inc. (not Halozyme Therapeutics, Inc., as indicated in the metadata) for the reporting date of November 11, 2002. The registrant is incorporated in Nevada and is headquartered in San Diego, California. The filing primarily addresses a change in the company's independent certifying public 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 the audit firm and the history of the relationship with the previous accountant.
Material Changes
- Change in Auditor: On November 11, 2002, the Board of Directors voted to replace Quintanilla Accountancy Corporation with Hall & Company as the independent accountant.
- Scope of New Engagement: Hall & Company was retained to examine the financial statements for the 2002 fiscal year.
- Transition Protocol: The company authorized Quintanilla to respond fully to inquiries from Hall & Company and to make work papers available.
Outlook, Risks, and Management Commentary
Management provided the following commentary regarding the transition and the prior relationship with Quintanilla Accountancy Corporation:
- Audit History: Reports issued by Quintanilla from the company's inception (February 21, 2001) through November 11, 2002, contained no adverse opinions, disclaimers, or qualifications regarding audit scope or accounting principles.
- Disagreements: There were no disagreements between the registrant and Quintanilla on accounting principles, financial statement disclosures, or auditing procedures during the period of engagement.
- Reportable Events: No "reportable events" as defined by Item 304 of Regulation S-K occurred during the engagement period.
Investor Verification Checklist
- Verify the identity of the registrant; the filing is for Global Yacht Services, Inc., not Halozyme Therapeutics, Inc.
- Confirm the effective date of the new auditor (Hall & Company) is November 11, 2002.
- Review the upcoming 2002 fiscal year financial statements prepared under the supervision of Hall & Company.
- Check for any subsequent filings regarding the completion of the 2002 fiscal year examination.