UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 1, 2013
Presidential
Realty Corporation
(Exact name of registrant as specified in
its charter)
| Delaware |
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1-8594 |
|
13-1954619 |
| (State or other jurisdiction |
|
(Commission |
|
(I.R.S. Employer |
| of incorporation) |
|
File Number) |
|
Identification Number) |
| 9 East 40th Street, Suite 900, New York, NY |
|
10016 |
| (Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: (914) 948-1300
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| o |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 4.01. Changes in Registrant’s Certifying Accountant.
(a) Resignation of independent registered public accounting
firm.
On June 1, 2013, Presidential Realty Corporation (the “Company”)
was informed by its independent registered public accounting firm, Holtz Rubenstein Reminick LLP (“HRR”) that HRR has
combined its practice (the “Merger”) with Baker Tilly Virchow Krause, LLP (“Baker Tilly”) effective as
of June 1, 2013. As a result of the Merger, HRR effectively resigned as the Company’s independent registered public accounting
firm and Baker Tilly, as the successor to HRR following the Merger, became the Company’s independent registered public accounting
firm. The engagement of Baker Tilly was approved by the Audit Committee of the Company’s Board of Directors on June 1, 2013.
The principal accountant’s reports of HRR on the financial
statements of the Company as of and for the years ended December 31, 2012 and 2011 did not contain any adverse opinion or disclaimer
of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles, except for the expression
of substantial doubt about the Company’s ability to continue as a going concern.
During the years ended December 31, 2012 and 2011 and through
the effective date of the Merger, there were no disagreements with HRR on any matter of accounting principles or practices, financial
statement disclosure, or auditing scope or procedure, which if not resolved to HRR’s satisfaction would have caused HRR to
make reference thereto in connection with its reports on the financial statements for such years. During the years ended December
31, 2012 and 2011 and through June 1, 2013, there were no reportable events of the types described in Item 304(a)(1)(v) of Regulation
S-K.
The Company provided Baker Tilly (as successor by merger of
HRR) with a copy of the foregoing disclosure and requested Baker Tilly to furnish the Company with a letter addressed to the Securities
and Exchange Commission stating whether it agrees with the statements made herein. A copy of the letter furnished by Baker Tilly,
dated June 1, 2013, is filed as Exhibit 16.1 to this Current Report on Form 8-K.
(b) Engagement of new independent registered public accounting
firm.
On June 1, 2013, the Audit Committee approved the engagement
of Baker Tilly as the Company’s independent registered public accounting firm, effective as of June 1, 2013.
Prior to June 1, 2013, the Company did not consult with Baker
Tilly (the predecessor company) regarding (1) the application of accounting principles to a specified transactions, (2) the type
of audit opinion that might be rendered on the Company’s financial statements, (3) written or oral advice was provided that
would be an important factor considered by the Company in reaching a decision as to an accounting, auditing or financial reporting
issues, or (4) any matter that was the subject of a disagreement between the Company and its predecessor auditor as described in
Item 304(a)(1)(iv) or a reportable event as described in Item 304(a)(1)(v) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
Exhibit No.
16.1 |
Description
Letter from Baker Tilly dated June 1, 2013 |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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PRESIDENTIAL REALTY CORPORATION |
|
| |
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| Date: June 4, 2013 |
By: |
/s/ Alexander Ludwig |
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Alexander Ludwig |
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|
President |
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