Cyanotech Appoints New Auditor BDO USA, LLP
Ticker: CYAND · Form: 8-K · Filed: Dec 16, 2024 · CIK: 768408
| Field | Detail |
|---|---|
| Company | Cyanotech Corp (CYAND) |
| Form Type | 8-K |
| Filed Date | Dec 16, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, financial-reporting
TL;DR
Cyanotech swapped auditors from Deloitte to BDO USA, LLP effective Dec 10.
AI Summary
Cyanotech Corporation filed an 8-K on December 16, 2024, reporting a change in its certifying accountant. The company has appointed BDO USA, LLP as its new independent registered public accounting firm, effective December 10, 2024. This change follows the resignation of the previous auditor, Deloitte & Touche LLP.
Why It Matters
A change in a company's auditor can signal potential issues or a desire for a fresh perspective on financial reporting, which investors should monitor.
Risk Assessment
Risk Level: medium — A change in auditor can sometimes precede or coincide with financial restatements or other material events, warranting closer investor scrutiny.
Key Players & Entities
- Cyanotech Corporation (company) — Registrant
- BDO USA, LLP (company) — New Certifying Accountant
- Deloitte & Touche LLP (company) — Former Certifying Accountant
- December 10, 2024 (date) — Effective date of auditor change
- December 16, 2024 (date) — Filing date of the 8-K
FAQ
Who is Cyanotech Corporation's new independent registered public accounting firm?
Cyanotech Corporation has appointed BDO USA, LLP as its new independent registered public accounting firm.
When did the change in certifying accountant become effective?
The change in certifying accountant became effective on December 10, 2024.
Who was Cyanotech Corporation's previous independent registered public accounting firm?
Cyanotech Corporation's previous independent registered public accounting firm was Deloitte & Touche LLP.
What type of filing is this report?
This report is a Form 8-K, a Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
What is Cyanotech Corporation's state of incorporation?
Cyanotech Corporation is incorporated in Nevada.
Filing Stats: 927 words · 4 min read · ~3 pages · Grade level 17.3 · Accepted 2024-12-16 13:53:10
Filing Documents
- cyan20241214_8k.htm (8-K) — 31KB
- ex_757546.htm (EX-16.1) — 3KB
- 0001437749-24-037557.txt ( ) — 157KB
- cyan-20241210.xsd (EX-101.SCH) — 3KB
- cyan-20241210_def.xml (EX-101.DEF) — 10KB
- cyan-20241210_lab.xml (EX-101.LAB) — 14KB
- cyan-20241210_pre.xml (EX-101.PRE) — 11KB
- cyan20241214_8k_htm.xml (XML) — 3KB
01
Item 4.01. Changes in Registrant ' s Certifying Accountant. a) Dismissal of Independent Registered Public Accounting Firm Following an extensive evaluation process that included proposals from several accounting firms, the Audit Committee (the "Audit Committee") of the Board of Directors (the "Board") of Cyanotech Corporation (the "Company") with the Board's approval decided to dismiss the Company's current independent registered accountant and external auditor, Grant Thornton LLP ("Grant Thornton"), and to engage BPM LLP ("BPM") as its new independent registered public accounting firm for the fiscal year ending March 31, 2025. On December 10, 2024, the Audit Committee dismissed Grant Thornton as the Company's independent registered accounting firm. The audit reports of Grant Thornton on the Company's consolidated financial statements for each of the two most recent years ended March 31, 2024 and 2023 did not contain an adverse opinion or a disclaimer of opinion nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the Company's most recent fiscal years ended March 31, 2024 and 2023, and during subsequent interim period through December 10, 2024, (i) there were no disagreements within the meaning of Item 304(a)(1)(iv) of Regulation S-K on any matter of accounting principles or practices, financial statement disclosure, or auditing scope and procedures, which disagreements, if not resolved to Grant Thornton's satisfaction, would have caused Grant Thornton to make reference to the matter in their reports, on the financial statements for such years; and, (ii) there were no "reportable events" as that term is defined in Item 304(a)(1)(v) of Registration S-K. The Company provided Grant Thornton with a copy of the disclosures in this Current Report on Form 8-K (this "Report") prior to filing this Report with the Securities and Exchange Commission (the "SEC"). The Company request that Grant Thornton furnish it with a
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit Number Name and/or Identification of Exhibit 16.1 Letter from Grant Thornton LLP to the Securities and Exchange Commission dated December 16, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES 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. CYANOTECH CORPORATION Dated: December 16, 2024 /s/ Jennifer C. Rogerson By: Jennifer C. Rogerson Chief Financial Officer, Vice President – Finance & Administration, and Treasurer (Principal Financial Officer) EXHIBIT INDEX Exhibit Number Name and/or Identification of Exhibit 16.1 Letter from Grant Thornton LLP to the Securities and Exchange Commission dated December 16, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)