Each one in plain English, with the numbers worked through for a shareholder.
27 June 2017auditor change● NeutralMajor
Filed June 2017 (the cover says an event date of May 30, 2013), this filing now lists Dolat as a Wyoming company based in Beijing, signed by Wang DeQun as President. New management says the prior management reported that Egeberg, the auditor hired in 2011, was dismissed on May 30, 2013 and replaced by Patrick Rodgers CPA, PA. The filing says Egeberg had withdrawn his PCAOB registration on November 12, 2012 (stated as November 13, 2012), that he could not be located, so no letter from him could be obtained, and that it found no evidence Rodgers certified any financial statements; Rodgers was banned from public accounting by the PCAOB in March 2014 in an unrelated matter. On May 25, 2017 the company engaged De Leon & Company, PA as its new auditor. This shows a long gap in the company's reporting and a change of control and location since the 2011 New York-based filings (the change of control and move are inferences from the changed address, state and signatory; the filing does not describe them).
This amended filing repeats that Pritchett, Siler & Hardy resigned as auditor on May 3, 2011 because it could not staff the audit in time for timely filings, and that Eugene M. Egeberg was engaged on May 9, 2011 for the year ended February 28, 2011. It adds that there were no disagreements with the outgoing firm during the three quarters it worked with the company, and attaches the outgoing firm's letter to the SEC as Exhibit 16.1. It updates the May 11 filing rather than reporting a new change.
Auditor Pritchett, Siler & Hardy resigned on May 3, 2011, which the filing attributes to the auditor being unable to staff the audit in time for the company to file on schedule. The company hired Eugene M. Egeberg on May 9, 2011 as auditor for the year ended February 28, 2011. The filing reports no disagreements with the outgoing firm. This is the second auditor change in under a year, following the 2010 switch from LBB.
This is an amended version of the June 2010 auditor-resignation filing. It restates that LBB & Associates resigned on June 17, 2010 with no disagreements, and now says plainly that the audits of the years ended February 28, 2010 and 2009 contained a paragraph expressing substantial doubt about the company's ability to continue as a going concern. It attaches an updated LBB letter dated July 22, 2010.
On June 17, 2010 the company's auditor, LBB & Associates, resigned. LBB had audited the years ended February 28, 2010 and 2009; the filing says there were no disagreements, and that the reports on those years carried a going-concern qualification.
On April 13, 2010 Dolat agreed to take 75% of Millennium Mining LLC, a Sierra Leone diamond and gold mining company, in exchange for 30,000,000 new Dolat shares, and says the deal took effect that day. This adds an operating mining business in Sierra Leone under Dove, and issues a large number of new shares, which dilutes existing holders (inference from the share counts). The filing says it is accounted for as a reverse merger and that Dolat conducts all its mining operations through Millennium.
18 Dec 2009asset acquisition disposition● NeutralMajor
The Dove Diamonds and Mining acquisition took effect on December 15, 2009, with Dove shareholders receiving 20,622,000 restricted Dolat shares, and Dove is now a wholly owned subsidiary. The filing describes Dolat as a shell company before the deal. It now describes the business as mining and wholesale of diamonds and gemstones, headquartered in New York, with no operations begun as of September 30, 2009, and Dove had only $1,000 in cash at that date. Dove's auditors-related going-concern doubt is stated, and the company's stock has an OTCBB ticker (DOLV) but no trading market has developed. This completes the deal announced in November and moves the company away from its original mining-claims plan.
On November 9, 2009 the company agreed to acquire 100% of Dove Diamonds and Mining, Inc., a Nevada company, in exchange for 20,622,000 restricted new shares of Dolat. This is far larger than the 6,600,000 shares outstanding as of August 2009, so existing holders would be diluted (inference from the share counts). The deal was expected to close in November 2009 once its conditions were met. It follows the change of control to Gary Tice.
