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) November 2, 2005
GLOBAL INNOVATIVE SYSTEMS INC.
(Exact name of registrant as specified in its charter)
Nevada
(State or other jurisdiction of incorporation)
000-30299
(Commission File Number)
98-0217653
(IRS Employer Identification No.)
16/F., Hang Seng Mongkok Building, 677 Nathan Road, Mongkok, Kowloon, Hong Kong
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code (852) 2546-1808
N/A
(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:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 4.01 Changes in Registrant’s Certifying Accountant
On November 2, 2005, we engaged Clancy and Co., P.L.L.C.., certified public accountants, as our principal independent accountant with the approval of our company’s board of directors. Accordingly, we dismissed Deloitte Touche Tohmatsu, an independent registered public accounting firm, on November 2, 2005.
Deloitte Touche Tohmatsu's report on our financial statements dated July 15, 2005 for the past two fiscal years ended March 31, 2005 and 2004, did not contain an adverse opinion or disclaimer of opinion, or qualification or modification as to uncertainty, audit scope, or accounting principles, except that Deloitte Touche Tohmatsu expressed in their report substantial doubt about our ability to continue as a going concern.
In connection with the audit of our financial statements for the two most recent fiscal years ended March 31, 2005, and in the subsequent interim period through the date of dismissal, there were no disagreements, resolved or not, with Deloitte Touche Tohmatsu on any matters of accounting principles or practices, financial statement disclosure, or auditing scope and procedures which disagreements, if not resolved to the satisfaction of Deloitte Touche Tohmatsu, would have caused Deloitte Touche Tohmatsu to make reference to the subject matter of the disagreements in connection with their report. Our company provided Deloitte Touche Tohmatsu with a copy of this Current Report on Form 8-K prior to its filing with the Securities and Exchange Commission, and requested that they furnish our company with a letter addressed to the Securities and Exchange Commission stating whether they agree with the statements made in this Current Report on Form 8-K, and if not, stating the aspects with which they do not agree. A copy of the letter provided from Deloitte Touche Tohmatsu, dated November 8, 2005, is filed as Exhibit 16 to this Form 8-K.
During the years ended March 31, 2005 and 2004 and the subsequent interim period through the date hereof, we have not consulted with Clancy and Co., P.L.L.C. regarding 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 our financial statements, nor has Clancy and Co., P.L.L.C. provided to us a written report or oral advice regarding such principles or audit opinion or any matter that was the subject of a disagreement or reportable events set forth in Item 304(a)(1)(iv) of Regulation S-B with our former principal independent accountant.
Item 9.01 | Financial Statements and Exhibits |
(c) EXHIBITS
16.1 Letter from Deloitte Touche Tohmatsu.
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.
GLOBAL INNOVATIVE SYSTEMS INC.
By: /s/ Bondy Tan
Name: Bondy Tan
Title: President and Chief Executive Officer
Dated: November 8, 2005
