Change in Registrant's Certifying
Accountant.
(a)Resignation of Current Accountants
On May 1, 2019, Token Communities Ltd. (the
"Company") was notified of the resignation of its independent registered public accounting firm, MJF & Associates,
APC (“MJF”), to be effective on May 31, 2019. The Company’s Board of Directors accepted the resignation of MJF
upon receipt of the notification and has commenced a search for a new independent public accounting firm.
No report of MJF on the financial statements
of the Company’s fiscal years ended June 30, 2018 contained an adverse opinion or a disclaimer of opinion or was qualified
or modified as to uncertainty, audit scope, or accounting principles, except that the audit report on the consolidated financial
statements of the Company for the fiscal year ended June 30, 2018 contained an uncertainty about the Company’s ability to
continue as a going concern.
MJF at the time of resignation had not been
engaged to perform an audit of the Company’s consolidated financial statements, or released a report or opinion regarding
the Company’s financial statements, for the fiscal year ended June 30, 2019. During the time of their engagement and up through
their resignation on, there were no disagreements with MJF on any matters of accounting principles or practices, financial statement
disclosure or auditing scope and procedures which, if not resolved to the satisfaction of MJF, would have caused MJF to make reference
to the matter in their report. There were no reportable events (as that term is described in Item 304(a)(1)(v) of Regulation S-K)
during the fiscal year ended June 30, 2018.
The Company has provided a copy of the foregoing
disclosures to MJF and requested that MJF furnish it with a letter addressed to the Securities and Exchange Commission stating
whether MJF agrees with the above statements. A copy of MJF’s letter to the Securities and Exchange Commission, dated September
24, 2020, is filed as Exhibit 16.1 to this Form 8-K.
(b) Engagement of New Independent Registered
Public Accounting Firm.
On August 26, 2020, the Company selected
AJ Robbins CPA LLC (“AJ Robbins”) as its new independent registered public accounting firm. The decision to engage
AJ Robbins as the Company's independent registered public accounting firm was approved by the Company's Board of Directors. During
the Company's two most recent fiscal years, and any subsequent interim period prior to engaging AJ Robbins, the Company did not
(or someone on its behalf) consulted AJ Robbins regarding:(i) 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 the Company's financial statements, and either
a written report was provided to the Company or oral advice was provided that AJ Robbins concluded was an important factor considered
by the registrant 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 paragraph 304(a)(1)(iv) and the related instructions to this item) or a reportable
event (as described in paragraph 304(a)(1)(v)). AJ Robbins was provided a copy of this Report prior to filing and approved the
contents herein.
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