Corewafer Industries, Inc. 8-K 2008
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 04, 2008
Action Products International, Inc.
(Exact name of registrant as specified in its charter)
1101 N. Keller Road, Suite E
Orlando, Florida 32810
(Address of principal executive office, including zip code)
(Telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
As described in Items 4.01(a) and (b) below, Action Products International, Inc. (the Company), has dismissed Moore Stephens Lovelace P.A. (MSL) as the Companys independent registered public accounting firm and engaged Berman Hopkins, Wright & LaHam, CPAs and Associates, LLP (Berman Hopkins) as its new independent registered public accounting firm. As described in the fourth paragraph of Item 4.01(a) below, the change in independent registered public accounting firms is not the result of any disagreement with MSL.
(i) On December 04, 2008, the Company dismissed MSL as its independent registered public accounting firm.
(ii) The audit reports of MSL on the consolidated financial statements as of and for the fiscal years ended December 31, 2007 and 2006 did not contain an adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
(iii) On December 03, 2008, the Companys Audit Committee approved the change of independent accountants.
(iv) For the fiscal years ended December 31, 2007 and 2006 and the interim period ended September 30, 2008, there have been no disagreements with MSL on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of MSL would have caused them to make reference thereto in their reports on financial statements for such periods.
(v) During the fiscal year ended December 31, 2007 and the interim period ended September 30, 2008, there have been no reportable events as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
A letter from MSL is attached as Exhibit 16.1 to this Form 8-K.
On December 04, 2008, the Company engaged Berman Hopkins as the Companys independent registered public accounting firm. The Audit Committee made the decision to engage Berman Hopkins. The Company has not consulted with Berman Hopkins during its two most recent fiscal years or during any subsequent interim period prior to its appointment as auditor regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Companys consolidated financial statements, or (ii) any matter that was either the subject of disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a reportable event (within the meaning of Item 304(a)(1)(v) of Regulation S-K).
In deciding to select Berman Hopkins, the Audit Committee considered Berman Hopkins experience and expertise in auditing the financial statements of public companies. The Audit Committee concluded that Berman Hopkins has no commercial relationship that would impair its independence and had the appropriate expertise that the Company required regarding its current operations.
The Company issued a press release announcing its selection of Berman Hopkins. A copy of the Companys press release dated December 08, 2008 is attached hereto as Exhibit 99.1.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.