UNITED STATES
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CURRENT REPORT
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Item 4.01 Changes in Registrant’s Certifying Accountant
(a) Registrant has retained Mahoney Sabol as its independent accountants.
Newpoint Financial Corporation has appointed MahoneySabol CPA’s and Advisors situated at 180 Glastonbury Boulevard, Suite 400, Glastonbury, CT 06033-4439.
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
The Chief Financial Officer of the registrant concluded that the 10Q filed on June 17,2021 should no longer be relied upon because the company inadvertently recorded a related party loan of $1 million and a corresponding loan payable both of which were incorrect. At the time of filing, this error was not discovered. It resulted in an error to both the balance sheet and earnings per share calculation. Additionally, new independent accountants had not been appointed to review the 10Q, therefore that filing would also be considered incomplete.
The Chief Financial Officer of the registrant concludes that the 10Q filed on September 7, 2021 should no longer be relied up because the company inadvertently recorded a deduction for a foreign currency translation adjustment that was incorrect. At the time of filing, this error was not discovered. It resulted in an error to both the income statement and the earnings per share calculation. Additionally, the second quarter filing was not reviewed by the companies’ newly appointed auditors.
The CFO discussed this matter with registrant’s independent accountant identified above with regard to matters disclosed in Item 4.02(a). It is expected that an amended 10Q’s will be filed by no later than November 15, 2021.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Newpoint Financial Corp. | ||
| Dated: November 9, 2021 | By: | /s/ Dominic Persad |
| Name: | Dominic Persad | |
| Title: | Chief Executive Officer | |