SEC Filing Summary: SMSA Ballinger Acquisition Corp.
Business Context and Reporting Period
This Form 8-K was filed by SMSA Ballinger Acquisition Corp. on December 21, 2015, reporting events occurring on December 17, 2015. The registrant is a Nevada corporation headquartered in Dallas, Texas. The filing specifically addresses a change in the company's independent registered public accounting firm.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding corporate governance and does not contain financial statement data.
Material Changes
The primary material change reported is the termination of the engagement with Stevenson & Company CPAs LLC ("Stevenson"), who were engaged on July 7, 2015. The company engaged Turner, Stone & Company, L.L.P. ("Turner Stone") as the new independent registered public accounting firm, effective December 18, 2015. The Board of Directors approved this change citing geographic convenience.
Management Commentary and Risks
- Reason for Change: The switch to Turner Stone was driven by geographic convenience.
- Consultations: The company confirmed no consultations occurred with Turner Stone regarding accounting principles or audit opinions during the two most recent fiscal years or the period subsequent to December 31, 2014.
- Disagreements: There were no disagreements with the former accountant, Stevenson, regarding accounting principles, financial statement disclosures, or auditing scope. Stevenson's reports did not contain adverse opinions, disclaimers, or qualifications.
- Exhibits: A letter from Stevenson & Company CPAs LLC dated December 18, 2015, responding to the company's request for confirmation, is filed as Exhibit 16.1.
Key Facts for Investor Verification
- Verify the geographic location of the new auditor, Turner Stone, relative to the company's principal executive offices in Dallas, Texas.
- Review Exhibit 16.1 to confirm Stevenson & Company CPAs LLC's concurrence with the company's statements regarding the lack of disagreements.
- Monitor future filings to ensure the transition of audit responsibilities does not impact the timeliness of upcoming financial reports.
- Note that the filing date (December 21, 2015) is later than the event date (December 17, 2015), which is standard but worth noting for timeline accuracy.