Engagement of MaloneBailey, LLP
As previously disclosed by the Company in its Current Report on Form 8-K filed on November 14, 2014, Power REIT (the “Company”) received the resignation of CohnReznick LLP (“CRZ”) as the Company’s independent registered public accounting firm.
On December 19, 2014, the Company’s Audit Committee approved engaging MaloneBailey, LLP (“MB”) as the Company’s independent registered public accounting firm for the Company’s fiscal year ending December 31, 2014, and on January 20, 2015, the Company completed the process of engaging MB in such capacity.
During the fiscal years ended December 31, 2014, 2013 and 2012 and the subsequent interim period prior to engaging MB, neither the Company nor anyone acting on the Company’s behalf consulted MB regarding: (i) either 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 financial statements; or (ii) any matter that was either the subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of SEC Regulation S-K and the related instructions to that item) or a reportable event (as defined in paragraph (a)(1)(v) of Item 304 of SEC Regulation S-K).