Flag Ship Acquisition Corp Appoints New Auditor Wei, Wei & Co.

What Happened

• On July 20, 2026 the Audit Committee of Flag Ship Acquisition Corporation approved the engagement of Wei, Wei & Co., LLP as the Company’s new independent registered public accounting firm for the year ending December 31, 2026, and dismissed MaloneBailey LLP effective the same date.
• The filing notes there were no disagreements with MaloneBailey during the years ended December 31, 2025 and 2024 (and the subsequent period through dismissal) on accounting, disclosure or auditing scope that would have led MaloneBailey to qualify its reports.

Key Details

• Effective date of auditor change: July 20, 2026. Engagement covers year ending December 31, 2026.
• MaloneBailey’s audit reports for Dec 31, 2025 and 2024 were not adverse or qualified, but included an explanatory paragraph about substantial doubt regarding the Company’s ability to continue as a going concern (net capital deficiency and reliance on completing a business combination).
• The Company’s Form 10-K for the year ended Dec 31, 2025 identified material weaknesses in internal control over financial reporting: (1) inadequate segregation of duties due to limited personnel, and (2) insufficient written policies and procedures for accounting, IT, financial reporting and record keeping.
• The Company provided MaloneBailey with a copy of this 8-K and furnished MaloneBailey’s letter to the SEC as Exhibit 16.1. The Company also stated it had not consulted Wei, Wei & Co., LLP on accounting or auditing matters during the periods described.

Why It Matters

• Auditor changes are material because they can affect investor confidence in financial reporting and signal shifts in governance or audit strategy. In this case, the change comes after the Company disclosed material weaknesses in internal control and a prior auditor’s going-concern note — facts investors should consider when assessing risk.
• Investors should review the Company’s Dec 31, 2025 Form 10-K (for details on the material weaknesses and going-concern disclosure) and monitor any remediation plans and future audit opinions from Wei, Wei & Co., LLP for indications of improvements in controls or continued reporting risk.