Allied Energy, Inc. Changes Independent Auditor – Key Updates for Investors

Summary of Key Developments

• Change of Independent Registered Public Accounting Firm: Allied Energy, Inc. (“the Company”) announced the dismissal of its current auditor, Victor Mokuolu, CPA PLLC (“VM CPA”), and the engagement of a new auditor, J&S Associate PLT.
• Effective Date: The change was effective as of March 3, 2026, following Board approval.
• Fiscal Years Impacted: VM CPA audited the Company’s financial statements for fiscal years 2023 and 2024. J&S Associate PLT will audit the fiscal year ending December 31, 2025.
• Going Concern Warning: The outgoing auditor’s reports included a “substantial doubt about the Company’s ability to continue as a going concern.”
• No Disagreements Reported: There were no disagreements or reportable events between the Company and VM CPA relating to accounting, disclosure, or audit scope during the covered periods.

Details of the Auditor Change

Background: On February 24, 2026, VM CPA was notified via email of the Company’s intent to change accountants and end its services. The final audit report from VM CPA was for the fiscal year ended December 31, 2024.

As required by SEC regulations, Allied Energy, Inc. provided VM CPA with a copy of the disclosures regarding the change and requested that VM CPA furnish a letter addressed to the SEC stating whether it agreed with the Company’s representations. This letter, dated March 4, 2026, is included as Exhibit 16.1 to the Form 8-K.

New Auditor Appointed: The Board approved the engagement of J&S Associate PLT as the new independent registered public accounting firm on March 3, 2026. The new auditor will be responsible for the audit for the year ending December 31, 2025.

No Consultations Prior to Appointment: The Company stated that, during the past two fiscal years and subsequent interim periods, there were no consultations or advice received from J&S Associate PLT regarding accounting principles, audit opinions, or reporting issues prior to their engagement. Furthermore, no reportable events or disagreements occurred.

Matters of Importance to Shareholders

• Going Concern Warning: The most critical and potentially price-sensitive disclosure is the “substantial doubt about the Company’s ability to continue as a going concern” included in the outgoing auditor’s reports for 2023 and 2024. This language is a red flag regarding the Company’s financial stability and may impact investor confidence and share valuation.
• Emerging Growth Company Status: Allied Energy, Inc. identifies as an “emerging growth company” and has elected not to use the extended transition period for complying with new or revised accounting standards. This may impact how quickly the Company must adopt changes in accounting rules that could affect reported results.
• No Disagreements or Reportable Events: There were no disagreements or other reportable events with the outgoing auditor, which helps mitigate concerns about accounting irregularities or disputes.
• Change in Auditor: While auditor changes are not uncommon, investors should closely monitor the first audit from the new firm for any significant changes in accounting judgments, estimates, or disclosures.
• Exhibit 16.1: The Form 8-K includes the outgoing auditor’s letter to the SEC, as required, confirming agreement with the Company’s disclosures.

Other Disclosures

• The Company has no securities registered under Section 12(b) of the Exchange Act (i.e., no listed securities).
• No written communications, soliciting material, or pre-commencement tender offers are associated with this Form 8-K filing.
• Allied Energy, Inc. is incorporated in Florida but lists a business address in Toronto, Canada.
• The report is signed by Adrian Capobianco, Chief Executive Officer, on March 4, 2026.

Potential Share Price Impact

The “going concern” warning is the most significant aspect of this disclosure and is likely to be material for investors. Such warnings can negatively affect share price due to increased perceived risk regarding the Company’s ability to meet its obligations and continue operating. Additionally, auditor changes may contribute to market uncertainty until the new auditor’s first report is issued.

Disclaimer

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and consult with financial or legal advisors before making investment decisions. The information is based on public filings and may not cover all developments or risks related to Allied Energy, Inc.

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