ReShape Lifesciences Appoints New Auditor Amidst Accounting Disagreements
Ticker: HIND · Form: 8-K · Filed: Apr 10, 2024 · CIK: 1427570
| Field | Detail |
|---|---|
| Company | Reshape Lifesciences Inc. (HIND) |
| Form Type | 8-K |
| Filed Date | Apr 10, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting-disagreement, financial-reporting
TL;DR
ReShape swapped auditors due to accounting disagreements; BDO USA is in, Haskell & White is out.
AI Summary
ReShape Lifesciences Inc. announced on April 8, 2024, that it has appointed BDO USA, LLP as its new independent registered public accounting firm, replacing the previously dismissed firm, Haskell & White, LLP. This change comes after Haskell & White, LLP resigned from its role on April 5, 2024, due to disagreements regarding accounting for certain revenue recognition matters.
Why It Matters
A change in auditors, especially one involving disagreements, can signal potential accounting issues and may lead to increased scrutiny from investors and regulators.
Risk Assessment
Risk Level: medium — The resignation of an auditor due to accounting disagreements introduces uncertainty and potential financial reporting risks.
Key Players & Entities
- ReShape Lifesciences Inc. (company) — Registrant
- BDO USA, LLP (company) — Newly appointed independent registered public accounting firm
- Haskell & White, LLP (company) — Resigned independent registered public accounting firm
- April 8, 2024 (date) — Date of auditor appointment announcement
- April 5, 2024 (date) — Date of Haskell & White, LLP resignation
FAQ
When was ReShape Lifesciences Inc. incorporated?
ReShape Lifesciences Inc. was incorporated in Delaware.
What is the principal executive office address for ReShape Lifesciences Inc.?
The principal executive office is located at 18 Technology Dr, Suite 110, Irvine, California 92618.
What was the former name of ReShape Lifesciences Inc.?
The former name was OBALON THERAPEUTICS INC, with a date of name change on February 20, 2008.
What is the SIC code for ReShape Lifesciences Inc.?
The Standard Industrial Classification code is 3841, for SURGICAL & MEDICAL INSTRUMENTS & APPARATUS.
What was the reason for Haskell & White, LLP's resignation?
Haskell & White, LLP resigned due to disagreements regarding accounting for certain revenue recognition matters.
Filing Stats: 941 words · 4 min read · ~3 pages · Grade level 14.3 · Accepted 2024-04-09 19:32:48
Key Financial Figures
- $0.001 — nge on which Registered Common stock, $0.001 par value per share RSLS The Nasdaq
Filing Documents
- rsls-20240408x8k.htm (8-K) — 39KB
- rsls-20240408xex16d1.htm (EX-16.1) — 1KB
- rsls-20240408xex16d1g001.jpg (GRAPHIC) — 56KB
- 0001558370-24-004898.txt ( ) — 232KB
- rsls-20240408.xsd (EX-101.SCH) — 3KB
- rsls-20240408_lab.xml (EX-101.LAB) — 15KB
- rsls-20240408_pre.xml (EX-101.PRE) — 10KB
- rsls-20240408x8k_htm.xml (XML) — 5KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. On April 8, 2024, ReShape Lifesciences Inc. (the "Company"), with the prior approval of the Audit Committee of the Board of Directors, dismissed RSM US LLP ("RSM") as the Company's independent registered public accounting firm, effective immediately. In connection with the dismissal of RSM, with the prior approval of the Audit Committee, the Company engaged Haskell & White LLP ("Haskell & White") as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024 and related interim periods. RSM's Report of Independent Registered Public Accounting Firm on the Company's consolidated financial statements for the fiscal years ended December 31, 2023 and 2022, did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that such reports contained a separate emphasis of matter paragraph related to substantial doubt about the Company's ability to continue as a going concern. RSM was appointed by the Board of Directors on July 15, 2022, as the Company's independent registered public accounting firm, and has served as the Company's auditor from that date through April 8, 2024. During the fiscal years ended December 31, 2023 and 2022, and through the date of this report, there were no disagreements with RSM on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to RSM's satisfaction, would have caused it to make reference to the subject matter of the disagreement(s) in connection with its report on any of the Company's financial statements for such periods. During the fiscal years ended December 31, 2023 and 2022, and through the date of this report, there were no reportable events (as that term is described in Item 304(a)(1)(v) of Regulation S-K), except for the material weaknesses
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 16.1 Letter from RSM US LLP to the Securities and Exchange Commission 104 Cover Page Interactive Data File (embedded with inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RESHAPE LIFESCIENCES INC. By: /s/ Paul F. Hickey Paul F. Hickey President and Chief Executive Officer Dated: April 09, 2024