New Horizon Aircraft Appoints New Auditor
Ticker: HOVRW · Form: 8-K · Filed: Apr 3, 2024 · CIK: 1930021
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
New Horizon Aircraft swapped auditors from Marcum LLP to EisnerAmper LLP, effective April 2, 2024.
AI Summary
New Horizon Aircraft Ltd. filed an 8-K on April 2, 2024, to report a change in its certifying accountant. The company previously engaged with Marcum LLP and has now appointed EisnerAmper LLP as its new independent registered public accounting firm, effective April 2, 2024. This change follows the resignation of Marcum LLP.
Why It Matters
A change in auditor can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, 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 shifts.
Key Players & Entities
- New Horizon Aircraft Ltd. (company) — Registrant
- Marcum LLP (company) — Former Certifying Accountant
- EisnerAmper LLP (company) — New Certifying Accountant
- April 2, 2024 (date) — Effective date of change in accountant
FAQ
Who was New Horizon Aircraft Ltd.'s previous independent registered public accounting firm?
New Horizon Aircraft Ltd.'s previous independent registered public accounting firm was Marcum LLP.
When was the change in certifying accountant effective?
The change in certifying accountant was effective as of April 2, 2024.
Who is New Horizon Aircraft Ltd.'s new independent registered public accounting firm?
New Horizon Aircraft Ltd.'s new independent registered public accounting firm is EisnerAmper LLP.
What is the reason for the change in auditor?
The filing indicates that the change in auditor is due to the resignation of Marcum LLP.
What is the company's primary business based on its SIC code?
The company's Standard Industrial Classification (SIC) code is 3721, which corresponds to Aircraft manufacturing.
Filing Stats: 946 words · 4 min read · ~3 pages · Grade level 13.8 · Accepted 2024-04-02 18:30:02
Key Financial Figures
- $11.50 — Ordinary Share at an exercise price of $11.50 per share HOVRW The Nasdaq Stock Ma
Filing Documents
- ea0203027-8k_newhoriz.htm (8-K) — 34KB
- ea020302701ex16-1_newhoriz.htm (EX-16.1) — 2KB
- 0001213900-24-029470.txt ( ) — 252KB
- hovr-20240402.xsd (EX-101.SCH) — 4KB
- hovr-20240402_def.xml (EX-101.DEF) — 26KB
- hovr-20240402_lab.xml (EX-101.LAB) — 36KB
- hovr-20240402_pre.xml (EX-101.PRE) — 25KB
- ea0203027-8k_newhoriz_htm.xml (XML) — 6KB
01
Item 4.01. Changes in Registrant's Certifying Accountant. (a) Dismissal of Independent Registered Public Accounting Firm. On April 2, 2024, the Audit Committee (the "Audit Committee") of the Board of Directors New Horizon Aircraft Ltd. (the "Company"), approved the engagement of MNP LLP ("MNP") as the Company's independent registered public accounting firm for the Company's fiscal year ended May 31, 2024, effective April 3, 2024. On April 2, 2024, the Company dismissed Marcum LLP ("Marcum") as the Company's independent registered public accounting firm. The reports of Marcum on the Company's consolidated financial statements as of December 31, 2023 and 2022 and for the year ended December 31, 2023 and for the period from March 11, 2022 (inception) through December 31, 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. During the fiscal years ended December 31, 2023 and 2022, and through April 2, 2024, there have been no "disagreements" (as defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) with Marcum on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to the satisfaction of Marcum would have caused Marcum to make reference thereto in its reports on the consolidated financial statements for such years. There were no reportable events (as that term is described in Item 304(a)(1)(v) of Regulation S-K) during the two fiscal years ended December 31, 2023 and 2022, or in the subsequent period through April 2, 2024. The Company provided Marcum with a copy of the disclosure it is making herein in response to Item 304(a) of Regulation S-K, and requested that Marcum furnish the Company with a copy of its letter addressed to the SEC, pursuant to Item 304(a)(3) of Regulation S-K, stating whether or not Marcum agrees with the statements relat
(a)(1)(v) of Regulation S-K)
Item 304(a)(1)(v) of Regulation S-K).
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 16.1 Letter from Marcum LLP, dated April 2, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE 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. NEW HORIZON AIRCRAFT LTD. Date: April 2, 2024 By: /s/ E. Brandon Robinson Name: E. Brandon Robinson Title: Chief Executive Officer 2