UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 20-F/A
(Amendment No.1)
(Mark one)
| ¨ | REGISTRATION STATEMENT
PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
OR
| x | ANNUAL REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the fiscal year ended June 30,
2015
OR
| ¨ | TRANSITION REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
OR
| ¨ | SHELL COMPANY REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Date of event requiring this shell company report: ______________________
Commission File Number: 001-35755
Delta Technology Holdings Limited
(Exact name of the Registrant as specified
in its charter)
British Virgin Islands
(Jurisdiction of incorporation or organization)
16 Kaifa Avenue
Danyang, Jiangsu, China 212300
(Address of principal executive offices)
Xin Chao
Chief Executives Officer
16 Kaifa Avenue
Danyang, Jiangsu, China 212300
Tel: +86 511-8673-3102
Email: chaoxin77@sina.com
(Name, Telephone, E-mail and/or Facsimile
Number and Address of Company Contact Person)
Securities registered or to be registered
pursuant to Section 12(b) of the Act:
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Title of each class |
Name of exchange on which registered |
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Ordinary Shares |
NASDAQ Capital Market |
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Redeemable Ordinary Share Purchase Warrants |
NASDAQ Capital Market |
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Securities registered or to be registered
pursuant to Section 12(g) of the Act:
Not Applicable.
Securities for which there is a reporting
obligation pursuant to Section 15(d) of the Act:
Not Applicable.
As of November 16, 2015, the issuer had
9,567,034 ordinary shares outstanding (including 1,500,000 ordinary shares subject to certain net income performance targets).
Indicate by check mark if the registrant
is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
Yes ¨
No x
If this report is an annual or transition
report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934.
Yes ¨
No x
Indicate by check mark whether the registrant
(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes x
No ¨
Indicate by check mark whether the registrant
has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted
and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter
period that the registrant was required to submit and post such files).
Yes x
No ¨
Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer or a non-accelerated filer. See definition of “accelerated filer and large
accelerated filer” in Rule 12b-2 of the Exchange Act.
¨ Large Accelerated filer |
¨ Accelerated filer |
x Non-accelerated filer |
Indicate by check mark which basis of accounting
the registrant has used to prepare the financial statements included in this filing:
x US GAAP |
¨ |
International Financial Reporting Standards as issued by the International Accounting Standards Board |
¨ Other |
If “Other” has been checked
in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.
¨
Item 17 ¨ Item 18
If this is an annual report, indicate by
check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ¨
No x
EXPLANATORY NOTE
Delta Technology Holdings Limited is filing
this Amendment No. 1 (the “Amendment No.1”) to the Annual Report on Form 20-F for the fiscal year ended June 30, 2015
originally filed with the Securities and Exchange Commission (the “Commission”) on November 17, 2015 (the “Original
Report”) solely for the purpose of amending certain disclosure under Item 16F Change In Registrant’s Certifying Accountants
and filing the letter from Marcum LLP addressed to the Commission regarding disclosure provided in Item 16F as Exhibit 99.1.
Other than as expressly set forth above,
this Amendment No. 1 does not, and does not purport to, amend, update or restate the information in any other items of the Original
Report, or reflect events that have occurred after the Original Report was filed.
ITEM 16F. |
CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANTS |
On February 25,
2012, Marcum LLP (“Marcum”) was engaged to act as the Company’s independent registered public accounting firm.
Upon consummation of the Acquisition, Delta’s accounting firm, Dominic K.F. Chan & Co (“Dominic Chan”), became
the Company’s principal independent registered public accounting firm and Marcum’s engagement as the Company’s
principal independent register public accounting firm therefore ended. Marcum was notified of their termination on November
16, 2015.
The reports of Marcum
on the Company’s financial statements as of and for the years ended October 31, 2013 and 2012 contained no adverse opinion
or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles except that
such report on the Company’s financial statements contained an explanatory paragraph related to the Company’s ability
to continue as an going concern. As disclosed in Item 15 of the Company’s Annual Report on Form 20-F for the fiscal year
ended October 31, 2013, the Company’s management and Board of Directors identified certain matters that constituted material
weaknesses in the Company’s internal control over financial reporting. During the years ended October 31, 2013 and 2012,
and the subsequent interim period through the date of the termination of Marcum’s engagement (“Engagement Period”),
there were no “disagreements,” as that term is defined in Item 16F(a)(1)(iv) of Form 20-F and the related instructions
to Item 16F of Form 20-F, with Marcum 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 Marcum, would have caused it to make reference
to the subject matter of the disagreements in connection with its reports on the consolidated financial statements of the Company.
Furthermore, except for the material weaknesses in the Company’s internal control over financial reporting discussed above,
no “reportable events,” as that term is defined in Item 16F(a)(1)(v) of Form 20-F, occurred within the periods covered
by Marcum’s reports on the consolidated financial statements of the Company, or subsequently up to the date of the termination
of Marcum’s engagement.
The Company provided
Marcum with a copy of the foregoing disclosure and requested that Marcum furnish it with a letter addressed to the Securities and
Exchange Commission stating whether or not Marcum agrees with the statements made above, and if not, stating the respects in which
it does not agree. A copy of such letter, dated November 23, 2015, is filed as Exhibit 99.1 to this Amendment No. 1.
During the years
ended October 31, 2013 and 2012 and the subsequent interim period prior to Dominic Chan’s appointment, neither the Company
nor anyone on its behalf consulted Dominic Chan 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 consolidated financial
statements, and either a written report was provided to the Company or oral advice was provided that Dominic Chan concluded was
an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue;
or (ii) any matter that was either the subject of a “disagreement” or a “reportable event” as described
above.
The list of exhibits in the Exhibit Index to this report is
incorporated herein by reference.
SIGNATURE
The registrant hereby
certifies that it meets all of the requirements for filing on Form 20-F/A and that it has duly caused and authorized the undersigned
to sign this annual report on its behalf.
Date: November 23, 2015 |
DELTA TECHNOLOGY HOLDINGS LIMITED |
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/s/ Xin Chao |
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Xin Chao |
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Chief Executive Officer and Chairman |
EXHIBIT INDEX
Exhibit
No. |
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Description |
99.1* |
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Letter from Marcum LLP addressed to the Securities and Exchange Commission regarding the disclosure provided in Item 16F |
Exhibit 99.1
November 23, 2015
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Commissioners:
We have read the statements made by Delta
Technology Holdings Limited (formerly CIS Acquisition Ltd.) under Item 16F of its Amendment No. 1 to Form 20-F on Form 20-F/A dated
November 23, 2015. We agree with the statements concerning our Firm in such Form 20-F/A; we are not in a position to agree or disagree
with other statements of Delta Technology Holdings Limited (formerly CIS Acquisition Ltd.) contained therein.
Very truly yours,
/s/ Marcum llp
Marcum llp
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