United States Securities and Exchange Commission

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15[d] of the Securities Exchange Act of 1934

September 16, 2013

Date of Report

[Date of Earliest Event Reported]

CAPITAL GROUP HOLDINGS, INC.

(Exact name of Registrant as specified in its Charter)


Minnesota	000-17064	41-1430130
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

16624 North 90th Street, Suite 200, Scottsdale, AZ 85260

(Address of Principal Executive Offices, including zip code)

(480) 998-2100

(Registrant’s Telephone Number, including area code)

___________________________________________

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions (see general instruction A.2. below):

. Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

. Soliciting material pursuant to Rule 14-a-12 under the Exchange Act (17 CFR 240.14a-12)

. Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

. Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

Previous independent registered public accounting firm

On September 4, 2013, Capital Group Holdings, Inc. (the “Company”) was notified by Semple, Marchal and Cooper, LLP, Certified Public Accountants (SMC) of its decision to resign as the Company’s independent registered public accounting firm. Subsequent to the notice of resignation by SMC, the Company and its board of directors entered into negotiations with SMC regarding its outstanding fees due and fee quote for the current year’s audit ending June 30, 2013. These negotiations continued up and through September 11, 2013 for which both the Company and SMC reached an impasse. The Company’s board of directors acknowledged the decision by SMC to resign and not stand for re-election as the Company’s independent registered public accounting firm and that acknowledgement was made at a duly authorized meeting of the board of directors on September 11, 2013. SMC was initially engaged by the Company on April 3, 2012 to audit the years ended June 30, 2010 and 2011, and review quarterly filings due therein. On August 8, 2012 SMC was engaged to audit the year ended June 30, 2012 and review the quarterly filings therein. SMC did not perform any accounting, auditing or consulting services for the Company after September 4, 2013 at which time SMC deems it is no longer independent based upon the unpaid fees due to them.

SMC’s report on the Company’s consolidated financial statements for the fiscal years ended June 30, 2010, 2011 and 2012 did not contain an adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principle, except that the report of SMC on the Company’s financial statements for fiscal years 2010, 2011 and 2012 contained an explanatory paragraph, which noted that there was substantial doubt about the Company’s ability to continue as a going concern.

During the fiscal years ended June 30, 2010, 2011 and 2012, and subsequent interim periods ended September 30, 2012, December 31, 2012 and March 31, 2013, through the date of resignation September 4, 2013, there were no disagreements between the Company and SMC except for the matter surrounding the accounting treatment of common stock price guarantee disclosed in Form 8-K/A filed December 27, 2012. The Company and its management amended the common stock price guarantee to reflect the intentions of both parties to the agreement. Pursuant to matter described above (1) the Company’s board of directors has discussed the matter with SMC, and (2) the Company’s board of directors have authorized SMC to respond fully to any inquiries of a successor accountant, if and when a successor accountant is chosen. There are no other matters surrounding accounting treatment of principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to SMC’s satisfaction, would have caused them to make reference to the subject matter of the disagreement in connection with their report on the financial statements of the Company for such years.

During fiscal year ended June 30, 2012, and subsequent interim period through the date of resignation, September 4, 2013, there were no other reportable events, as defined in Item 304(a)(1)(v) of Regulation S-K.

The Company provided SMC with a copy of this disclosure set forth under this Item 4.01 and requested SMC to furnish a letter addressed to the Securities & Exchange Commission stating whether or not it agrees with the above statements.

A copy of this letter from SMC is attached hereto as Exhibit 16.1a.

ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On September 11, 2013, our Board appointed Kenneth J. Yonika as acting Chief Financial Officer of the Company. Mr. Yonika shall perform the services of Principal Accounting Officer and Chief Financial Officer through his wholly-owned company, Pacific Crest Equity Partners, Inc.

Kenneth J. Yonika – Acting Chief Financial Officer and Principal Accounting Officer

Mr. Yonika, a senior finance executive with more than 20 years of experience working with publicly traded companies joined our management team. Over the years Mr. Yonika has held the role of Chief Financial and Accounting Officer for several publicly held companies. These companies include WHY USA Financial Group, Inc. (WUFG:OTC) (August 2007 through current), HotelPlace, Inc. (HTPC:OTCBB) (June 2010 through May 2011), Northern Explorations, Inc. (NXPN:OTCBB) (August 2009 through October 2010), and Tulip BioMed, Inc. (TPBM:OTC) (August 2006 through April 2008). Mr. Yonika sits on several boards of directors and has the essential expertise required under Sarbanes-Oxley Act of 2002 to head or chair the audit committee as required under the Act. Mr. Yonika most recently sat on the board of directors of a San Diego based medical device developer and manufacturer and a Phoenix, Arizona based medical device developer and manufacturer. During his professional career Mr. Yonika held the role of financial reporting management for a prominent San Diego based billion dollar biotech, in addition to providing the same services for several biotech and high tech businesses in the region. His broad-based experience includes, in addition to financial and external reporting, initial public offerings, mergers and acquisitions, international business as well as managing difficult operational issues surrounding both logistics and manufacturing.

Prior to forming Pacific Crest, Mr. Yonika worked with DrugMax, Inc., a publicly traded Connecticut-based national specialty-pharma and drug wholesaler/distributor, where he served on its senior management team. Prior to his role with DrugMax, Mr. Yonika worked with Carlsbad-based Life Technologies, Inc. and several other San Diego based public companies in financial and external reporting roles. Early in his professional career Mr. Yonika participated in several IPO’s upon leaving the public accounting profession in 1996. One of those IPO’s was Skechers USA which began it going-public process in 1998. Mr. Yonika has been an integral part of the teams that liaised between registrant, management and investment banker counsel. Mr. Yonika continues to liaise with these professionals more than 15 years later. Mr. Yonika a former big-4 CPA with ties to national audit and accounting firms, international law firms and several investment banks based in Southern California. Mr. Yonika and his firm Pacific Crest have been successful in guiding companies through the going-public process as well as participating in several IPO’s and DPO’s over the years.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits


Exhibit No.	Description of Exhibit
16.1a	Revised Letter from Semple, Marchal & Cooper, LLP

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



	Capital Group Holdings, Inc.
Date: September 16, 2013	By:	/s/Kenneth J. Yonika
		Kenneth J. Yonika, CPA Chief Financial Officer

Capital Group Holdings, Inc. 8-K