Item 4.01. Changes in Company's Certifying Accountant
(a) Previous independent accountants
(i) Effective February 18, 2011, Micro Imaging Technology, Inc. (the "Company"), confirmed with its auditor, Jeffrey S. Gilbert, CPA (“Gilbert”) that the firm would no longer be representing the Company as its accountants. As of that date, Gilbert informed the Company that he would decline to stand for re-appointment as the Company’s auditor as he was retiring.
(ii) Gilbert last reported on the Company's financial statements as of October 31, 2010 and 2009. The audit reports of Gilbert on the Company’s financial statements for the fiscal years ending October 31, 2010 and 2009 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles, except such reports were modified to include an explanatory paragraph describing for a going concern uncertainty.
(iii) The change of independent accountants was ratified by the Board of Directors of the Company on February 18, 2011.
(iv) Gilbert was original engaged on January 7, 2007. During the period from January 7, 2007 to February 18, 2011, there were no disagreements with Gilbert on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to Gilbert’s satisfaction, would have caused the auditor to make reference to the subject matter of the disagreement in connection with her report.
(v) During the period from January 7, 2007 to February 18, 2011, there have been no reportable events (as defined in Regulation S-K Item 304(a)(1)(v)).
(vi) During the period from January 7, 2007 to February 18, 2011, Gilbert did not advise the Company that the internal controls necessary for the Company to develop reliable financial statements do not exist.
(vii) During the period from January 7, 2007 to February 18, 2011, Gilbert did not advise the Company that any information had come to its attention which had led it to no longer be able to rely on management's representation, or that had made Gilbert unwilling to be associated with the financial statements prepared by management.
(viii) During the period from January 7, 2007 to February 18, 2011, Gilbert did not advise the Company that the scope of any audit needed to be expanded significantly or that more investigation was necessary.
(ix) During the period from January 7, 2007 to February 18, 2011, Gilbert did not advise the Company that there was any information which the accountant concluded would materially impact the fairness and reliability of either (i) a previously issued audit report or the underlying financial statements, or (ii) the financial statements issued or to be issued covering the fiscal period(s) subsequent to the date of the most recent financial statements covered by an audit report (including information that, unless resolved to the accountant's satisfaction, would prevent it from rendering an unqualified audit report on those financial statements.
(x) The Company has requested that Gilbert furnish it with a letter addressed to the SEC stating whether or not it agrees with the above statements. A copy of such letter, dated March 17, 2011, is filed as Exhibit 16.1 to this Form 8-K.
