Lifeloc Technologies Appoints New Auditor
Ticker: LCTC · Form: 8-K · Filed: May 23, 2024 · CIK: 1493137
| Field | Detail |
|---|---|
| Company | Lifeloc Technologies, Inc (LCTC) |
| Form Type | 8-K |
| Filed Date | May 23, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 4 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: LCTC
TL;DR
Lifeloc swapped auditors, BDO out, Anton & Chia in. No drama reported.
AI Summary
Lifeloc Technologies, Inc. announced on May 20, 2024, that it has appointed a new independent registered public accounting firm, Anton & Chia, LLP, effective immediately. This change follows the resignation of its former auditor, BDO USA, LLP, on May 17, 2024. The company has stated that there were no disagreements with BDO USA, LLP that led to this change.
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 closely.
Risk Assessment
Risk Level: low — The filing primarily concerns a change in auditor, which is a routine administrative event and does not inherently present significant financial risk.
Key Players & Entities
- Lifeloc Technologies, Inc. (company) — Registrant
- Anton & Chia, LLP (company) — New independent registered public accounting firm
- BDO USA, LLP (company) — Former independent registered public accounting firm
- May 20, 2024 (date) — Date of appointment of new auditor
- May 17, 2024 (date) — Date of resignation of former auditor
FAQ
When was the new independent registered public accounting firm appointed?
The new independent registered public accounting firm, Anton & Chia, LLP, was appointed effective May 20, 2024.
Who is the new independent registered public accounting firm for Lifeloc Technologies, Inc.?
The new independent registered public accounting firm is Anton & Chia, LLP.
Who was Lifeloc Technologies, Inc.'s previous independent registered public accounting firm?
Lifeloc Technologies, Inc.'s previous independent registered public accounting firm was BDO USA, LLP.
When did the former auditor resign?
The former auditor, BDO USA, LLP, resigned on May 17, 2024.
Were there any disagreements with the former auditor?
The filing states that there were no disagreements between Lifeloc Technologies, Inc. and BDO USA, LLP that led to the resignation.
Filing Stats: 891 words · 4 min read · ~3 pages · Grade level 14.6 · Accepted 2024-05-23 17:30:36
Filing Documents
- lctc_8k.htm (8-K) — 28KB
- lctc_ex16z1.htm (EX-16.1) — 3KB
- image_001.jpg (GRAPHIC) — 4KB
- image_002.jpg (GRAPHIC) — 3KB
- 0001553350-24-000056.txt ( ) — 210KB
- lctc-20240520.xsd (EX-101.SCH) — 3KB
- lctc-20240520_lab.xml (EX-101.LAB) — 33KB
- lctc-20240520_pre.xml (EX-101.PRE) — 22KB
- lctc_8k_htm.xml (XML) — 3KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant (a) Dismissal of independent registered public accounting firm. On May 20, 2024, the Audit Committee of the Board of Directors (the " Audit Committee ") of Lifeloc Technologies, Inc., a Colorado corporation, (the " Company ") approved, and the Board of Directors of the Company (the " Board ") ratified, the dismissal of GreenGrowth CPAs (the " Former Auditor ") as the Company's independent registered public accounting firm. The Former Auditor's reports on the Company' Company's most recent fiscal year ended December 31, 2023 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. Furthermore, during the Company's most recent fiscal year and through May 20, 2024, there were no "disagreements," as that term is described in Item 304(a)(1)(iv) of Regulation S-K promulgated under the Securities and Exchange Act of 1934, as amended (" Regulation S-K ") with the Former Auditor on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the Former Auditor's satisfaction, would have caused the Former Auditor to make reference to the subject matter of the disagreement in connection with its reports on the Company's financial statements for such periods. During the fiscal year ended December 31, 2023 and through May 20, 2024, there were no "reportable events" as that term is described in Item 304(a)(1)(v) of Regulation S-K. The Company provided the Former Auditor with a copy of the disclosures contained herein, prior to the Company's filing of this Current Report on Form 8-K with the Securities and Exchange Commission (the " Commission ") and requested that the Former Auditor furnish the Company with a copy of a letter addressed to the Commission stating whether the Former Auditor agreed with the statements herein and, if not
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 16.1 Letter from GreenGrowth CPA's dated May 22, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: May 23, 2024 LIFELOC TECHNOLOGIES, INC. By: /s/ Vern D. Kornelsen Chief Financial Officer and Secretary