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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest event Reported):
October 31, 2023 (October 26, 2023)
NETWORK CN INC.
(Exact Name of Registrant as Specified in Charter)
Delaware |
|
000-30264 |
|
90-0370486 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
Unit
705B, 7th Floor, New East Ocean Centre, 9 Science Museum Road, TST, KLN, Hong Kong
(Address of Principal Executive Offices)
(Zip Code)
852-9625 0097
(Registrant's telephone number, including area code)
_____________________________________________________
(Former name, former address and former fiscal
year, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act: NONE
Title of each class |
Trading Symbol(s) |
Name of each exchange on which
registered |
Common Stock, $0.001 par value |
NWCN |
OTC market |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if
the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 4.01 Changes in Registrant’s
Certifying Accountant
On October 3, 2023, Network
CN Inc. (the “Company”) was notified of the resignation, effective immediately, of the US Audit Practice of Gries & Associates,
LLC (“Gries”), as the Company’s independent registered public accounting firm in connection with Gries’s merger
on September 26, 2023, with GreenGrowth CPAs (“GreenGrowth”). On October 26, 2023, the Company’s Board of Directors
approved the appointment of GreenGrowth as the Company’s independent registered public accounting firm.
The audit reports of
Gries on the financial statements of the Company as of and for the years ended December 31, 2021 and December 31, 2022 did not contain
an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles,
except for an explanatory paragraph in such reports regarding uncertainty about the Company’s ability to continue as a going concern.
In connection with the
audits of the Company’s financial statements for the fiscal years ended December 31, 2021 and 2022 and through the date of this
Current Report, there were: (i) no disagreements between the Company and Gries on any matters of accounting principles or practices, financial
statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Gries, would have caused
Gries to make reference to the subject matter of the disagreement in their reports on the Company’s financial statements for such
years, and (ii) no reportable events within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K.
During the Company’s
two most recent fiscal years ended December 31, 2021 and 2022 and through the subsequent interim period through October 26, 2023, the
Company did not consult with GreenGrowth (i) the application of accounting principles to a specified transaction, either completed or
proposed, or the type of audit opinion that may be rendered on the Company’s financial statements, and GreenGrowth did not provide
either a written report or oral advice to the Company that was an important factor considered by the Company in reaching a decision as
to any accounting, auditing, or financial reporting issue; or (ii) the subject of any disagreement, as defined in Item 304 (a)(1)(iv)
of Regulation S-K and the related instructions, or a reportable event within the meaning set forth in Item 304(a)(1)(v) of Regulation
S-K.
The Company has provided
Gries a copy of the disclosures in this Form 8-K and has requested that Gries furnish it with a letter addressed to the Securities and
Exchange Commission stating whether or not Gries agrees with the Company’s statements in this Item 4.01(a). A copy of the letter
dated Amend as October 30, 2023 furnished by Gries in response to that request is filed as Exhibit 16.1 to this Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(c) Exhibits
Exhibit |
|
Description |
16.1 |
|
Letter from Gries & Associates, LLC, dated October 30, 2023 |
101 |
|
Pursuant to Rule 406 of Regulation S-T, the cover page is formatted
in Inline XBRL (Inline eXtensible Business Reporting Language). |
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document
and included in Exhibit 101). |
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.
Dated: October 31, 2023
|
NETWORK CN INC. |
|
|
|
|
|
|
|
By: /s/ Earnest Leung |
|
Earnest Leung |
|
Chief Executive Officer |
Exhibit 16.1
|
Gries & Associates, LLC
Certified Public Accountants
501 S. Cherry Street Ste 1100
Denver, Colorado 80246 |
October 30, 2023
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
We were previously contracted as the auditors
of Network CN Inc. (the Company) and issued financial statements for the years ended December 31, 2022 and 2021, and the subsequent reviews
for the fiscal year 2023. On October 26, 2023, we were dismissed. We have read the Company’s statements included under Item 4.01
of its Form 8-K dated October 30, 2023, and we have no basis to agree or disagree with other statements of the Company in the filing.
Very truly yours,
Denver, Colorado
PCAOB # 6778
October 30, 2023
blaze@griesandassociates.com
501 S. Cherry Street Suite 1100, Denver, Colorado
80246
(O)720-464-2875 (M)773-255-5631 (F)720-222-5846
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