Each one in plain English, with the numbers worked through for a shareholder.
7 Nov 2007auditor change▼ Bad
Auditor Tedder, James, Worden & Associates resigned (company notified November 1, 2007) and Cross, Fernandez, Riley, LLP was appointed on November 5, 2007. The resigning auditor's reports for the years ended March 31, 2007 and 2006 contained a going-concern doubt paragraph; no disagreements were reported.
Now named Diabetic Treatment Centers of America, the company signed a joint venture on May 12, 2006 to manage and develop Personal Performance Medical Corporation (Fit-Well), a Utah prosthetics and orthotics business. The company gets 75% and Fit-Well 25%, with the company contributing 5,000,000 of its shares. It also agreed to give Scott Allen 5,000,000 restricted shares for business development help, so shareholders face dilution.
The company, then called Flagstick Ventures, said its auditor Richard M. Prinzi, Jr. CPA resigned on April 27, 2004, saying he no longer audits SEC-regulated clients. Tedder, James, Worden & Associates was hired on May 26, 2004 to audit the year ended March 31, 2004. The filing reports no disagreements and no adverse opinions from the departing auditor.