{"url_path":"/sec/fshp/8-k/2026-07-21/item-4-01","section_key":"item-4-01","section_title":"Item 4.01 **","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-21","source_url":"https://www.sec.gov/Archives/edgar/data/1850059/0001829126-26-007693-index.html","accession_number":"0001829126-26-007693","cik":"0001850059","ticker":"FSHP","issuer_name":"Flag Ship Acquisition Corp","edgar_url":"https://www.sec.gov/Archives/edgar/data/1850059/0001829126-26-007693-index.html","primary_entity_key":"0001850059","primary_entity_name":"Flag Ship Acquisition Corp"},"word_count":621,"has_tables":true,"body_markdown":"**Item 4.01.**\n**Changes in Registrant’s Certifying Accountant.**\n\n \n\nOn July 20, 2026, the Audit\nCommittee of the Board of Directors (the “Audit Committee”) of Flag Ship Acquisition Corporation (the “Company”)\napproved the engagement of Wei, Wei & Co., LLP as the Company’s new independent registered public accounting firm for the year\nending December 31, 2026, effective as of such date. In connection with the selection of Wei, Wei & Co., LLP, the Audit Committee\ndismissed MaloneBailey LLP (“MaloneBailey”) as the Company’s independent registered public accounting effective July\n20, 2026.\n\n \n\nDuring the years ended December\n31, 2025 and 2024, and the subsequent period through the date of their dismissal, there were no disagreements (as defined in Item 304(a)(1)(iv)\nof Regulation S-K and related instructions) with MaloneBailey on any matter of accounting principles or practices, financial statement\ndisclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of MaloneBailey, would have caused\nMaloneBailey to make reference to the subject matter of the disagreement in their reports.\n\n \n\nDuring the fiscal years ending\nDecember 31, 2025 and December 31, 2024 and the subsequent period through the date of dismissal, there were no “reportable events”\n(as defined in Item 304(a)(1)(v) of Regulation S-K). except that the Company’s Annual Report on Form 10-K for the fiscal year ended\nDecember 31, 2025 identified certain material weaknesses in its internal control over financial reporting. The material weaknesses identified\nin the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 relating to (i) inadequate segregation of\nduties within account processes due to limited personnel, and (2) insufficient written policies and procedure for accounting, IT, financial\nreporting and record keeping.\n\n \n\nThe\nreport of MaloneBailey on the Company’s balance sheets as of December 31, 2025 and 2024, and the related statements of operations,\nchanges in shareholder’s deficit and cash flows for the year ended December 31, 2025 and December 31, 2024, did not contain an adverse\nopinion or a disclaimer of opinion, nor was it qualified or modified as to uncertainty, audit scope or accounting principles, except that\nsuch report contained an explanatory paragraph which noted that there was substantial doubt as to the Company’s ability to continue\nas a going concern because of the Company’s net capital deficiency and has incurred and expects to continue to incur significant\ncosts in pursuit of its financing and acquisition plans, and its dependence on the completion of a business combination within a prescribed\nperiod of time.\n\n \n\nThe Company provided MaloneBailey\nwith a copy of this Form 8-K and requested that MaloneBailey provides the Company with a letter addressed to the Securities and Exchange\nCommission stating whether it agrees with the above statements. A copy of MaloneBailey’s letter is furnished as Exhibit 16.1 to\nthis Form 8-K.\n\n \n\nDuring the years ended December\n31, 2025 and 2024, and the subsequent period through the date of its engagement of Wei, Wei & Co., LLP, neither the Company nor anyone\non its behalf has consulted Wei, Wei & Co., LLP with respect to either (i) the application of accounting principles to a specified\ntransaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s consolidated financial\nstatements or the effectiveness of internal control over financial reporting, where either a written report or oral advice was provided\nto the Company that Wei, Wei & Co., LLP concluded was an important factor considered by the Company in reaching a decision as to any\naccounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item\n304(a)(1)(iv) of Regulation S-K and related instructions) or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K).\n\n \n\n1"}