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NORRIS INDUSTRIES, INC.

(NRIS)
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NORRIS INDUSTRIES, INC. : Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits (form 8-K)

06/16/2021 | 04:10pm EDT

ITEM 4.01. Changes in Registrant's Certifying Accountant

On June 10, 2021, the Board of Directors of Norris Industries, Inc. ("Company"), dismissed Marcum LLP as the independent registered public accounting firm to the Company. The Company engaged Horne, LLP to be the independent registered public accounting firm to the Company for the fiscal year ending February 28, 2022.



Termination of Marcum LLP

The reports of Marcum LLP ("Marcum") on the Company's consolidated balance sheets as of February 29, 2020 and February 28, 2021 and the related consolidated statements of operations, consolidated statements of changes in stockholders' equity and consolidated statements of cash flows for the years then ended, did not contain an adverse opinion or disclaimer of opinion.

During the Company's most recent fiscal year, and the period subsequently through June 10, 2021, there were no disagreements between the Company and Marcum on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Marcum, would have caused it to make a reference to the subject matter of the disagreements in connection with their review on the Company's financial statements for such periods. In its Annual Report on Form 10-K, the Company disclosed control deficiencies which are material weaknesses. There were no other reportable events (as described under Item 304(a)(1)(v) of Regulation S-K) during the Company's most recent fiscal year and subsequently through June 10, 2021.

The Company has provided Marcum with a copy of this disclosure and requested that Marcum furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees or disagrees with the statements by the Company in this Current Report on Form 8-K.

A copy of the letter from Marcum is attached hereto as Exhibit 16.1



Engagement of Horne, LLP

On June 10, 2021, the Company engaged Horne, LLP ("Horne"), as its new independent registered public accounting firm. The engagement of Horne was approved by the Company's Board of Directors on June 9, 2021.

During the Company's most recent fiscal year ended February 28, 2021 and through June 10, 2021, neither the Company nor anyone acting on its behalf consulted with Horne regarding either (i) the application of accounting principles to a specific transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company's financial statements, and no written report was provided to the Company or oral advice was provided that Horne concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of either a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

ITEM 9.01. Financial Statements and Exhibits.



NUMBER   EXHIBIT

16.1       Letter from Marcum LLP, dated June 16, 2021, regarding the Change in
         Certifying Accountant. (Filed herewith.)

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 0,28 M - -
Net income 2021 -1,11 M - -
Net Debt 2021 3,04 M - -
P/E ratio 2021 -73,7x
Yield 2021 -
Capitalization 10,00 M 10,00 M -
EV / Sales 2020 12,3x
EV / Sales 2021 303x
Nbr of Employees 3
Free-Float 29,3%
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Norris Industries, Inc. Technical Analysis Chart | NRIS | US6563571008 | MarketScreener
Income Statement Evolution
Managers and Directors
Patrick L. Norris Chairman, President, Chief Executive Officer & CFO
Brian OĺConnell Operations Manager
Ross Henry Ramsey Director, President-Oil & Gas Division
Allen Horn Vice President-Production
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