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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/08/21 Masterworks 002, LLC 1-U:4 1/07/21 2:39K M2 Compliance LLC/FA |
Document/Exhibit Description Pages Size 1: 1-U Current Report HTML 15K 2: EX1U-9 ACCT LTR Letter re: a Change in Accountant HTML 6K
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 0rganization |
(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 January 7, 2020, Masterworks 002, LLC (the “Company”) dismissed Summit LLC (“Summit”) as the Company’s independent registered public accounting firm, which was approved by the board of managers of the Company. Such dismissal was due to the fact that the Company identified another audit firm that could perform the audit services on a more cost-effective basis.
The audit report of Summit on the Company’s financial statements for the period ended December 31, 2019 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 two most recent fiscal years and the subsequent interim period through the date of this Report, there were (i) no disagreements between the Company and Summit on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures which, if not resolved to Summit’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 Summit 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 Summit 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 January 7, 2020, the Company engaged LitmanGerson Associates, LLP as the Company’s independent registered public accounting firm for the year ended December 31, 2020, which was approved by the board of managers of the Company.
During the two most recent fiscal years and the subsequent interim period through the date of this Report, neither the Company nor anyone on its behalf has consulted with LitmanGerson Associates, LLP 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 LitmanGerson Associates, LLP 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.
C:
EXHIBITS
The following exhibits are filed herewith:
| Exhibit No. | Description of Exhibit | |
| 9.1 | Letter from Summit LLC to the Securities and Exchange Commission, dated January 8, 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: | January 8, 2021 | ||
C:
| This ‘1-U’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 1/8/21 | |||
| For Period end: | 1/7/21 | |||
| 12/31/20 | 1-K, 1-U | |||
| 1/7/20 | ||||
| 12/31/19 | 1-K | |||
| List all Filings | ||||