Termination Letter for Audit Services between Xynergy Corporation and Weinberg & Company, PA

Contract Categories: Business Operations › Termination Agreements
Summary

Xynergy Corporation is formally ending its relationship with Weinberg & Company, PA due to the firm's lack of response regarding the completion of an audit. Xynergy requests a refund and additional damages to cover related accounting and legal fees. The letter warns that if there is no response by June 8, 2004, Xynergy will pursue complaints with regulatory bodies and may file a civil lawsuit. The company expresses a preference to resolve the matter amicably and requests prompt communication from Weinberg & Company or their legal counsel.

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EX-10.38 2 v04077_ex10-38.txt Exhibit 10.38 XYNERGY CORPORATION [Letterhead] VIA FACSIMILE June 3, 2004 Elliott Weinberg Richard Hawkins, II Weinberg & Company, PA 6100 Glades Road, Suite 314 Boca Raton, Florida 33434 Re: Termination of Audit Services Dear Elliott: Since you remain non-responsive to our recent communications (letter & telephone messages), we no longer have a good faith belief that your firm will complete our audit. Therefore, we want to terminate our relationship with your firm and get a refund plus damages to cover the costs for accounting and legal fees for this transaction which will entail more than initiating another audit. To proceed with this transaction amicably, we require the following: Refund of $XXXX Damages in the amount of $XXXXX If you prefer that we communicate with your legal counsel, please have him or her call me or Ed Rose directly. In the event that we do not hear from you on or before Tuesday, June 8, we will commence proceedings against your firm with the California CPA Board, PCAOB, SEC and continue with the filing of a civil complaint. Our desire is to resolve this situation as quickly and efficiently as possible to prevent further damages to our company. A prompt response from you or your counsel would be in your best interests. Sincerely, /s/ Raquel Zepeda - ------------------------- Raquel Zepeda President cc: Edward A. Rose, Jr., Esq.