Binary Options brokerage operator EZTD Inc (OTCMKTS:EZTD), which operates the EZTrader (eztrader.com), Global Option (globaloption.com) and EZinvest (ezinvest.com) binary options brands, has made filings with the SEC indicating that it is switching auditors. Out is Ziv Haft, Certified Public Accountants (Isr.), a BDO Member Firm. Replacing Ziv Haft as the company’s auditor is Brightman Almagor Zohar & Co., a member firm of Deloitte Touche Tohmatsu.
Brightman Almagor will serve as the company’s independent registered public accounting firm for the year ending December 31, 2016, effective as of September 29.
Ziv Haft leaves having included an explanatory paragraph in their latest accounting report on EZTD stating that there was substantial doubt about the company’s ability to continue as a going concern.
That follows heavy losses at EZTrader.com the past few months. We reported that the company lost $4.9 million in Q2, as Revenues were down 30%. The company has been able to survive so far by raising more capital, the latest being a $6 million private placement transaction at the end of Q1, although that capital was mostly eaten up by the company’s losses in Q2.