NFiniTi's Auditor Pinnacle Sells Business, GreenGrowth CPAs Steps In

TL;DR

**NFiniTi's accountant, Pinnacle, sold part of its business, so GreenGrowth CPAs is likely taking over auditing duties.**

AI Summary

NFiniTi Inc. (OTCMKTS: NFIN) announced on January 23, 2024, that its independent accounting firm, Pinnacle Accountancy Group of Utah, sold a portion of its business to GreenGrowth CPAs on October 27, 2023. This change means GreenGrowth CPAs will likely become NFiniTi's new certifying accountant. This matters to investors because a change in auditors, especially due to a sale, can sometimes signal a shift in financial oversight or a need for investors to scrutinize the new firm's reputation and experience with similar companies.

Why It Matters

A change in a company's certifying accountant can impact investor confidence and may require a closer look at the new auditor's qualifications and independence. This transition could affect the continuity and consistency of financial reporting.

Risk Assessment

Risk Level: medium — A change in certifying accountants, especially due to a business sale, introduces a moderate risk of disruption or altered scrutiny in financial reporting.

Analyst Insight

Investors should monitor subsequent filings for formal confirmation of GreenGrowth CPAs as the new auditor and review any disclosures regarding auditor independence or disagreements. It's also prudent to research GreenGrowth CPAs' experience with companies in the oil and gas exploration sector.

Key Players & Entities

• NFiniTi inc. (company) — the registrant whose certifying accountant is changing
• Pinnacle Accountancy Group of Utah (company) — the former certifying accountant for NFiniTi inc.
• Heaton & Company, PLLC (company) — the parent company of Pinnacle Accountancy Group of Utah
• GreenGrowth CPAs (company) — the firm that purchased a portion of Pinnacle's business and is likely the new certifying accountant
• October 27, 2023 (date) — the date NFiniTi Inc. was informed of the business sale
• January 23, 2024 (date) — the filing date of this 8-K

Forward-Looking Statements

• GreenGrowth CPAs will officially be appointed as NFiniTi Inc.'s new certifying accountant. (GreenGrowth CPAs) — high confidence, target: 2024-03-31

FAQ

Filing Documents

• aoix_8k.htm (8-K) — 24KB
• aoix_ex161.htm (EX-16.1) — 3KB
• 0001477932-24-000321.txt ( ) — 146KB
• aoix-20231027.xsd (EX-101.SCH) — 6KB
• aoix-20231027_lab.xml (EX-101.LAB) — 14KB
• aoix-20231027_cal.xml (EX-101.CAL) — 1KB
• aoix-20231027_pre.xml (EX-101.PRE) — 9KB
• aoix-20231027_def.xml (EX-101.DEF) — 2KB
• aoix_8k_htm.xml (XML) — 3KB

01 Changes in Registrant's Certifying Accountant

Item 4.01 Changes in Registrant's Certifying Accountant. On October 27, 2023, NFiniTi Inc. (the "Company") was informed that Pinnacle Accountancy Group of Utah a dba of Heaton & Company, PLLC ("Pinnacle") had sold a portion of its business to GreenGrowth CPAs ("GreenGrowth"). On January 10, 2024, the Company engaged and executed an agreement with GreenGrowth CPAs ("GreenGrowth"), as the Company's new independent accountant to replace Pinnacle. The reports of Pinnacle regarding the Company's financial statements for the fiscal years ended October 31, 2022 and 2021, being the two most recent fiscal years for which the Company has filed audited financial statements with the Securities and Exchange Commission (the "SEC"), did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except to indicate that there was substantial doubt about the Company's ability to continue as a going concern. The board of directors of the Company, acting as the audit committee, approved the decision to change independent accountants. During the fiscal years ended October 31, 2022 and 2021, and through January 10, 2024, the Company had no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) with Pinnacle on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Pinnacle would have caused Pinnacle to make reference thereto in connection with its report. During the fiscal years ended October 31, 2022 and 2021, and through January 10, 2024, the Company did not experience any reportable events (as defined in Item 304(a)(1)(v) of Regulation S-K), except that management of the Company discussed with Pinnacle the continued existence of material weaknesses in the Company's internal control over financial repor

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 16.1 Letter from Pinnacle Accountancy Group of Utah a dba of Heaton & Company, PLLC 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

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. Date: January 22, 2024 By: /s/ Michael Noble Name: Michael Noble Title: President 3

View Full Filing

View this 8-K filing on SEC EDGAR