Yes folks… the CEO of IC Places, Inc., Mr. Steve Samblis, files an 8K with the SEC (see it here) stating that the accounting firm, DKM Certified Public Accountants, have been terminated. Believable ??? Well, you may remember it was just a short time ago that Mr. Samblis stated, on several occasions, and reported such via several SEC filings, that the previous president of IC Places (then IC Punch Media) was fired also… and that was documented to be far less than truthful. See the details here.
So… can this termination be believable in light of previous numerous documented instances where Mr. Samblis has been, shall we say, reckless with the truth? In a response by Travis Green, CPA, Audit Partner, with the firm DKM Certified Public Accountants when questioned about the missing lawsuit information in the 10K (details here) replies on 5/1/14 “Any information that would come to our attention subsequent to our audit report date would have to be measured on a case by case basis and in entirety to determine if it would have a material effect on the financial statements.“. Could it be that DMK Certified Public Accounts simply did not care to be associated with Mr. Samblis and his omission of information as relevant to the “… substantial doubt as to the Company’s ability to continue as a going concern as the Company has incurred net losses since inception and existing uncertain conditions which the Company faces relative to its obtaining capital in the equity markets.”. As the link documents, there was (and maybe still is) a substantial legal judgement against Mr. Samblis and IC Places, Inc. This is something that not only should have appeared in the SEC filing, but the omission is compounded by proactively indicating that there was in fact no legal actions during that reporting period. Obviously given the actual documentation shown in the link, demonstrates both the omission, and the statement of no legal proceedings was factually inaccurate. Was such omission purposeful and an attempt to deceive and defraud… that is for the courts (and you) to decide, however most will likely agree, it appears so.
So, could it be, that like the presidents “firing”, the real truth is, DKM chose to no longer represent Mr. Samblis? Perhaps DMK will comment on the controversy at some later date. Additionally, one wonders if the new accounting firm, Hartley Moore Accountancy Corporation, 2400 E. Katella, Suite 862 Anaheim CA. 92806, is aware of Mr. Samblis’s history with accuracy in the reporting of material facts revelent to IC Places and its solvency.
Also, take notice that the new firm uses the term “Accountancy” in their title. It appears that for the filing fee of $80.00, just about anyone can form an “Accountancy” company, and, according to the statute here, there doesn’t even need to be a Certified Public “Accountant” within the company. (see the below graphic (click to enlarge)) See the full exception here.
Now… there may be some very reputable “Accountancy” firms out there, however, when viewed in the context of why would Mr. Samblis chose an “Accountancy” firm over a CPA firm like he had in DKM… one would question the motive involved, and therefore question if the new firm is reputable. Can we now expect to see a play on terms relative to the SEC filings, i.e. document has been audited by a Certified Public Accountancy”.
Stay tuned folks… it only gets better and better !