180 Life Sciences Appoints New Auditor
Ticker: FRMM · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1690080
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: ATNF
TL;DR
180 Life Sciences swapped auditors from WithumSmith+Brown to Marcum LLP, effective April 17, 2024.
AI Summary
180 Life Sciences Corp. announced on April 17, 2024, a change in its certifying accountant. The company has appointed Marcum LLP as its new independent registered public accounting firm, replacing WithumSmith+Brown, PC. This change is effective immediately.
Why It Matters
A change in auditors can signal potential shifts in financial reporting or internal controls, which investors should monitor.
Risk Assessment
Risk Level: low — This filing pertains to a routine administrative change in the company's auditor and does not involve significant financial or operational events.
Key Players & Entities
- 180 Life Sciences Corp. (company) — Registrant
- Marcum LLP (company) — New Certifying Accountant
- WithumSmith+Brown, PC (company) — Former Certifying Accountant
- April 17, 2024 (date) — Effective Date of Change
FAQ
When was the change in certifying accountant effective?
The change in certifying accountant was effective April 17, 2024.
Who is the new certifying accountant for 180 Life Sciences Corp.?
The new certifying accountant is Marcum LLP.
Who was the previous certifying accountant for 180 Life Sciences Corp.?
The previous certifying accountant was WithumSmith+Brown, PC.
Did the company have any disagreements with its former accountant?
The filing states there were no disagreements or reportable events with WithumSmith+Brown, PC.
What is the ticker symbol for 180 Life Sciences Corp.?
The filing mentions 'ATNF:CommonStockParValue0.0001PerShareMember' and 'ATNF:WarrantsToPurchaseSharesOfCommonStockMember', suggesting ATNF is related to the company's stock.
Filing Stats: 1,625 words · 7 min read · ~5 pages · Grade level 12.5 · Accepted 2024-04-19 16:15:31
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ATNF The NASDAQ Stock Mar
- $2 million — policy, and seeking damages of at least $2 million in compensatory damages, together with
- $2.27 million — pril 16, 2024, AmTrust paid the Company $2.27 million in reimbursement of fees which the Comp
- $1.5 million — e Hornig, of which the Company received $1.5 million after the payment of attorney's fees.
Filing Documents
- ea0204234-8k_180life.htm (8-K) — 54KB
- ea020423401ex16-1_180life.htm (EX-16.1) — 3KB
- ex16-1_001.jpg (GRAPHIC) — 13KB
- ex16-1_002.jpg (GRAPHIC) — 2KB
- 0001213900-24-034519.txt ( ) — 297KB
- atnf-20240417.xsd (EX-101.SCH) — 4KB
- atnf-20240417_def.xml (EX-101.DEF) — 26KB
- atnf-20240417_lab.xml (EX-101.LAB) — 36KB
- atnf-20240417_pre.xml (EX-101.PRE) — 25KB
- ea0204234-8k_180life_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. As previously reported, on June 29, 2022, AmTrust International Underwriters DAC (" AmTrust "), which was the premerger directors' and officers' insurance policy underwriter for the Company, filed a declaratory relief action against the Company in the U.S. District Court for the Northern District of California (the " Declaratory Relief Action ") seeking declaration of AmTrust's obligations under the directors' and officers' insurance policy. In the Declaratory Relief Action, AmTrust is claiming that as a result of the merger, the Company is no longer the insured under the subject insurance policy, notwithstanding the fact that the fees which the Company seeks to recover from AmTrust relate to matters occurring prior to the merger. On September 20, 2022, the Company filed its Answer and Counterclaims against AmTrust for bad faith breach of AmTrust's insurance coverage obligations to the Company under the subject directors' and officers' insurance policy, and seeking damages of at least $2 million in compensatory damages, together with applicable punitive damages. In addition, the Company brought a Third-Party Complaint against its excess insurance carrier, Freedom Specialty Insurance Company (" Freedom ") seeking declaratory relief that Freedom will also be required to honor its policy coverage as soon as the amount of AmTrust's insurance coverage obligations to the Company have been exhausted. On October 25, 2022, AmTrust filed its Answer to the Company's Counterclaims and, on October 27, 2022, Freedom filed its Answer to the Third-Party Complaint. On November 22, 2022, the Company filed a Motion for Summary Adjudication against both AmTrust and Freedom. The Motion was fully briefed, and a hearing was held on March 9, 2023. The standard to prevail on a Motion for Summary Adjudication in the Court is high to prevail and requires a judge to find that there are no disputed issues of fact so that they can rule on the issues as a matter of la
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. Date: April 19, 2024 180 LIFE SCIENCES CORP. By: /s/ James N. Woody, M.D., Ph.D. Name: James N. Woody, M.D., Ph.D. Title: Chief Executive Officer 3