Use access key #2 to skip to page content.

gnulaw (51.81)

Geeknet (GKNT) Files SEC Form 8-K...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names

Recs

2

September 16, 2010 – Comments (0) | RELATED TICKERS: GKNT , IBM , BBY

Geeknet (GKNT) Files SEC Form 8-K 9/15...KPMG in...Stonefield Josephson out. Geeknet off diapers...into big boy pants. Kenneth Langone is Kicking A$$ and Taking Names.

I predict the implications of this simple filing will prove to be a statistically significant indicator with Langone's endgame. I also voted Stonefield Josephson out in the last several shareholder Proxies for hopefully the same reason Kenneth Langone did. This is starting to get interesting...


Item 4.01.    Changes in Registrant’s Certifying Accountant. (a)Dismissal of Independent Accountant Previously Engaged as Principal Accountant


On September 14, 2010, the Audit Committee (the “Audit Committee ” ) of the Board of Directors of Geeknet, Inc. (“Geeknet”) dismissed Stonefield Josephson, Inc. (“SJ”) as its independent registered public accounting firm effective September 14, 2010.


The reports of SJ on Geeknet’s financial statements for the years ended December 31, 2008 and 2009 contained no adverse opinion or disclaimer of opinion, and such reports were not qualified or modified as to uncertainty, audit scope or accounting principles.


During the years ended December 31, 2008 and 2009 and through September 14, 2010, there were no disagreements with SJ on any matter of accounting principles or practices, financial statement disclosure or auditing scope of procedure, which disagreements, if not resolved to the satisfaction of SJ would have caused SJ to make reference thereto in connection with its reports on Geeknet’s financial statements for such years.
During the years ended December 31, 2008 and 2009 and through September 14, 2010, there were no reportable events as described in Item 304(a)(1)(v) of Regulation S-K.


Geeknet has provided SJ with a copy of the foregoing disclosures.  Geeknet requested that SJ furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of SJ’s letter, dated September 15, 2010, stating its agreement with the above statements, is attached as Exhibit 16.1.


(b)Engagement of New Independent Accountant as Principal Accountant


On September 15, 2010, the Audit Committee engaged KPMG   LLP (“KPMG”) as its new independent registered public accounting firm.


During the fiscal years ended December 31, 2008 and December 31, 2009, and through KPMG’s engagement on September 15, 2010, Geeknet did not consult with KMPG regarding (i) the application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on Geeknet’s financial statements, and neither a written report was provided to Geeknet nor oral advice was provided that KPMG concluded was an important factor considered by Geeknet in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to such item) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

0 Comments – Post Your Own

Featured Broker Partners


Advertisement