Eastside Distilling Changes Auditors

TL;DR

Eastside Distilling swapped auditors, bringing in Armanino LLP and parting ways with Sadler, Gibb & Associates.

AI Summary

Eastside Distilling, Inc. filed an 8-K on December 5, 2024, reporting a change in its certifying accountant. The company has appointed Armanino LLP as its new independent registered public accounting firm, effective December 4, 2024. This change follows the resignation of its previous auditor, Sadler, Gibb & Associates, LLC.

Why It Matters

A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors will monitor.

Risk Assessment

Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial restatements or other disclosures that may impact the company's financial health.

Key Players & Entities

• Eastside Distilling, Inc. (company) — Registrant
• Armanino LLP (company) — New certifying accountant
• Sadler, Gibb & Associates, LLC (company) — Former certifying accountant
• December 4, 2024 (date) — Effective date of auditor change
• December 5, 2024 (date) — Filing date of the 8-K

FAQ

Key Financial Figures

• $0.0001 — ction 12(b) of the Act: Common Stock, $0.0001 par value EAST The Nasdaq Stock Mar

Filing Documents

• form8-k.htm (8-K) — 42KB
• ex16.htm (EX-16) — 3KB
• ex16_001.jpg (GRAPHIC) — 21KB
• ex16_002.jpg (GRAPHIC) — 16KB
• 0001493152-24-048882.txt ( ) — 270KB
• east-20241204.xsd (EX-101.SCH) — 3KB
• east-20241204_lab.xml (EX-101.LAB) — 33KB
• east-20241204_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

01 Change in Registrant's Certifying Accountant

Item 4.01 Change in Registrant's Certifying Accountant On December 4, 2024 the Board of Directors of Eastside Distilling, Inc. dismissed M&K CPAS, PLLC from its position as the principal independent accountant for Eastside Distilling, Inc. The dismissal was approved by the Audit Committee of the Board of Directors. The audit reports of M&K CPAS, PLLC on Eastside Distilling, Inc.'s financial statements for the years ended December 31, 2023 and 2022 did not contain any adverse opinion or disclaimer of opinion or qualification, except that the audit report of M&K CPAS, PLLC on Eastside Distilling, Inc.'s financial statements for the years ended December 31, 2023 and 2022 did contain a modification expressing substantial doubt about the ability of Eastside Distilling, Inc. to continue as a going concern. M&K CPAS, PLLC did not, during the applicable period, advise Eastside Distilling, Inc. of any of the enumerated items described in Item 304(a)(1)(iv) of Regulation S-K. During the two most recent fiscal years and the subsequent interim period through December 4, 2024, there was no disagreement between Eastside Distilling, Inc. and M&K CPAS, PLLC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement, if not resolved to its satisfaction, would have caused M&K CPAS, PLLC to make reference to the subject matter of such disagreement in connection with its report. During the same period, there was no "reportable event," as described in Item 304(a)(1)(v) of Regulation S-K, except that, in connection with its audit of the financial statements for the years ended December 31, 2023 and 2022, M&K CPAS, PLLC advised Eastside Distilling, Inc. that there was a material weakness in the internal controls necessary for Eastside Distilling, Inc. to develop reliable financial statements since management lacked a formal policy of inputs in testing for impairment. Eastside Distilling, Inc. requested M&

View Full Filing

View this 8-K filing on SEC EDGAR