Business Context and Reporting Period
This Form 8-K is a current report filed by International Surf Resorts, Inc. (not Cocrystal Pharma, Inc.) on March 30, 2010. The registrant is incorporated in Nevada and reports a change in its principal certifying accountant.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document notes that the prior accountant's reports for fiscal years 2008 and 2009 included a qualification regarding uncertainty about the registrant's ability to continue as a going concern.
Material Changes
- Accountant Dismissal: On March 30, 2010, the company dismissed Mendoza Berger & Company, LLP as its principal accountant.
- New Appointment: The company engaged Q Accountancy Corporation as its new principal accountant effective March 30, 2010.
- Approval: The change was recommended and approved by the Board of Directors.
Outlook, Risks, and Contingencies
Disagreements and Reportable Events: The registrant stated there were no disagreements with the former accountant (Mendoza) regarding accounting principles, practices, disclosures, or audit scope during fiscal years 2008 and 2009, or the interim period through March 30, 2010. No reportable events occurred.
Consultation with New Accountant: The registrant confirmed it did not consult the new accountant (QAC) regarding accounting principles, proposed transactions, or potential audit opinions prior to engagement.
Going Concern: The prior audit reports contained a qualification concerning the uncertainty of the company's ability to continue as a going concern.
Investor Verification Checklist
- Verify the reason for the dismissal of Mendoza Berger & Company, LLP by reviewing the attached letter from the former accountant (Exhibit 16.1).
- Confirm the current status of the "going concern" qualification noted in the 2008 and 2009 financial statements.
- Review the qualifications and background of the newly appointed Q Accountancy Corporation.
- Check for any subsequent filings that may provide updated financial data or resolve the going concern uncertainty.