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On October 12, 2017, Board of Directors of the Company accepted the resignation of M&K CPAs (“M&K”) as the Company’s independent registered public accounting firm.

 

Concurrent with this action, Board of Directors of the Company ratified and approved the appointment of Boyle CPA, LLC (“Boyle”) as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2011 to date and its engagement agreement dated October 12, 2017. Boyle is located at P.O. Box 726. Red Bank, New Jersey 07701.

 

The Company’s financial statements of the fiscal years ended June 30, 2010 were audited by M&K’s report on our financial statements, which did not contain an adverse opinion, a disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles. Enterprise's report on our financial statements for the fiscal year ended December 31, 2015 through March 30, 2016, however, stated that there is substantial doubt about the Company’s ability to continue as a going concern.

 

During the fiscal years ended June 30, 2008 and through October 12, 2017, (a) there were no disagreements with Enterprise on any matter of accounting principles or practices, financial statement disclosure, auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Stegman, would have caused it to make reference to the subject matter of the disagreement in connection with its report on the financial statements for such years and (b) there were no “reportable events” as described in Item 304(a)(1)(v) of Regulation S-K.

 

The Company has provided M&K with a copy of this Form 8-K prior to its filing with the Securities and Exchange Commission (“SEC”) and requested Enterprise to furnish a letter addressed to the SEC stating whether it agrees with the statements made above.  To be filed herewith as Exhibit 16.1 is a copy of Enterprise's letter to the SEC dated October 12, 2017.

 

During the Company's previous fiscal years ended June 30, 2008 through October 12, 2017, neither the Company nor anyone on the Company's behalf consulted with Enterprise 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 Company's financial statements or (ii) any matter that was either the subject of a disagreement or a reportable event as defined in Item 304(a)(1)(v) of Regulation S-K.

 

The Company has authorized M&K to respond fully to all inquiries of Boyle.