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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/27/20 Masterworks 002, LLC 1-U:4 2/27/20 2:139K M2 Compliance/FA |
Document/Exhibit Description Pages Size
1: 1-U Current Report -- Reg. A HTML 15K
2: EX1U-9 ACCT LTR Letter re: Accountant or Accounting HTML 4K
Principles -- Form 1-U
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 1-U
Current Report
Pursuant to Regulation A of the Securities Act of 1933
Date of Report: (Date of earliest event reported)
MASTERWORKS 002, LLC
(Exact name of issuer as specified in its charter)
| Delaware | 83-1314709 | |
State of other jurisdiction of incorporation or organization |
(I.R.S. Employer Identification No.) |
497 BROOME STREET, NEW YORK, NY 10013
(Full mailing address of principal executive offices)
(203) 518-5172
(Issuer’s telephone number, including area code)
(Issuer’s website)
Class A Ordinary Shares
(Class of Securities issued pursuant to Regulation A)
C:
| Item 4.01 | Change in Issuer’s Certifying Accountant. |
Dismissal of Independent Registered Public Accounting Firm
On February 27, 2020, Masterworks 002, LLC (the “Company”) dismissed Mayer Hoffman McCann, P.C. (“Mayer Hoffman”) as the Company’s independent registered public accounting firm. Such dismissal was due to the fact that the Company identified a smaller audit firm that could perform the audit services on a more cost-effective basis.
The audit report of Mayer Hoffman on the balance sheet of the Company as of December 31, 2018 did not contain an adverse opinion or a disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles.
During the period From July 19, 2018 (inception) through December 31, 2018 and the subsequent interim period through the date of this Report, there were (i) no disagreements between the Company and Mayer Hoffman on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures which, if not resolved to Mayer Hoffman’s satisfaction, would have caused it to make reference to the subject matter of the disagreement in connection with its report, and (ii) there were no “reportable events” as defined in Item 304(a)(1)(v) of Regulation S-K.
The Company provided Mayer Hoffman with a copy of the foregoing disclosures and requested it to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether Mayer Hoffman agrees with the statements made by the Company in the foregoing disclosures. A copy of the letter has been filed as Exhibit 9.1 to this report.
Engagement of New Independent Registered Public Accounting Firm
On February 27, 2020, the Company engaged Summit LLC (“Summit”) as the Company’s independent registered public accounting firm for the year ending December 31, 2019, which was approved by the board of directors of the Company.
During the period of July 19, 2018 (inception) through December 31, 2019 and the subsequent interim period through the date of this Report, neither the Company nor anyone on its behalf has consulted with Summit regarding either (i) 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 neither a written report nor oral advice was provided to the Company that Summit concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a “disagreement” or a “reportable event,” as such terms are defined in Regulation S-K Item 304(a)(1)(iv) and (v), respectively.
EXHIBITS
The following exhibits are filed herewith:
| Exhibit No. | Description of Exhibit | |
| 9.1 | Letter from Mayer Hoffman McCann, P.C. to the Securities and Exchange Commission, dated February 27, 2020. |
C:
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| MASTERWORKS 002, LLC | ||
| By: | /s/ Joshua B. Goldstein | |
| Name: | Joshua B. Goldstein | |
| Title: | General Counsel | |
| Date: February 27, 2020 | ||
C:
| This ‘1-U’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on / For Period end: | 2/27/20 | None on these Dates | ||
| 12/31/19 | ||||
| 12/31/18 | ||||
| 7/19/18 | ||||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 9/28/22 Masterworks 002, LLC 1-SA 6/30/22 2:514K M2 Compliance LLC/FA 4/26/22 Masterworks 002, LLC 1-K 12/31/21 2:317K M2 Compliance LLC/FA 9/27/21 Masterworks 002, LLC 1-SA 6/30/21 1:236K M2 Compliance LLC/FA 4/27/21 Masterworks 002, LLC 1-K 12/31/20 2:360K M2 Compliance LLC/FA 9/28/20 Masterworks 002, LLC 1-SA 6/30/20 1:237K M2 Compliance LLC/FA |