U.S. 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): April 13, 2020

 

TAITRON COMPONENTS INCORPORATED

(Exact name of registrant as specified in its charter)

 

California

(State or other

jurisdiction of incorporation)

0-25844

(Commission

File Number)

95-4249240

(I.R.S. Employer

Identification No.)

 

28040 WEST HARRISON PARKWAY, VALENCIA, CALIFORNIA 91355

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (661) 257-6060

 

NONE

(Former name or former address, 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:

☐ 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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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. ☐

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A common stock

TAIT

NASDAQ Capital Market

 

 

 

Item 4.01

Changes in Registrant’s Certifying Accountant.

 

(a) Dismissal of independent registered public accounting firm

 

On April 13, 2020, Taitron Components Incorporated (the “Company”) dismissed TAAD LLP (“TAAD”) as its independent registered public accounting firm. The Audit Committee of the Board of Directors of the Company approved the decision to dismiss TAAD. The dismissal of TAAD followed the decision of the Company to seek alternative proposals from independent auditing firms to audit the consolidated financial statements of the Company.

 

TAAD’s audit report on the Company’s consolidated financial statements as of and for the fiscal year ended December 31, 2019 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. During the most recent fiscal year ended December 31, 2019 and the subsequent period through the date of this report, there were: (i) no disagreements between the Company and TAAD on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreement, if not resolved to the satisfaction of TAAD, would have caused them to make reference to the subject matter of the disagreement in connection with their reports, and (ii) no “reportable events” as that term is defined in Item 304(a)(1)(v) of Regulation S-K.

 

The Company provided TAAD with a copy of the disclosures it is making in this Current Report on Form 8-K prior to the time it was filed with the Securities and Exchange Commission (the “SEC”). The Company requested that TAAD furnish a letter addressed to the SEC be provided within ten (10) days stating whether or not it agrees with the statements made herein, and if not, stating the respects in which it does not agree.

 

(b) Engagement of new independent registered public accounting firm

 

On April 13, 2020, the Company engaged Ramirez Jimenez International CPAs (“RJI”) as its independent registered public accounting firm. During the Company's two most recent fiscal years ended December 31, 2019 and December 31, 2018 and the subsequent interim period through the date of this report, the Company did not consult with RJI regarding any of the matters or events set forth in Item 304(a)(2) of Regulation S-K.

 

 

 

 

 

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.

 

 

TAITRON COMPONENTS INCORPORATED

 

 

 

 

 

 

 

 

 

 Dated: April 17, 2020 

By:

/s/ David Vanderhorst

 

 

 

 David Vanderhorst

 

 

 

 Chief Financial Officer