Video River Networks Changes Auditors
Ticker: NIHK · Form: 8-K · Filed: Jun 26, 2024 · CIK: 1084475
| Field | Detail |
|---|---|
| Company | Video River Networks, Inc. (NIHK) |
| Form Type | 8-K |
| Filed Date | Jun 26, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Video River Networks fired its auditor, Sadler Gibb, on June 25th. No new auditor yet.
AI Summary
Video River Networks, Inc. announced on June 20, 2024, a change in its certifying accountant. The company has dismissed its previous independent registered public accounting firm, Sadler, Gibb & Associates, LLC, effective June 25, 2024. The company has not yet appointed a new independent registered public accounting firm.
Why It Matters
A change in auditors can sometimes signal underlying issues with financial reporting or internal controls, warranting closer scrutiny by investors.
Risk Assessment
Risk Level: medium — A change in auditor, especially without a replacement named, can indicate potential accounting concerns or disagreements, increasing risk.
Key Players & Entities
- Video River Networks, Inc. (company) — Registrant
- Sadler, Gibb & Associates, LLC (company) — Dismissed Certifying Accountant
- June 20, 2024 (date) — Date of Report
- June 25, 2024 (date) — Effective Date of Dismissal
FAQ
Why was Sadler, Gibb & Associates, LLC dismissed as Video River Networks' certifying accountant?
The filing states that the dismissal was a decision by the Company's management and Board of Directors, but does not provide specific reasons for the dismissal.
Did Sadler, Gibb & Associates, LLC report any disagreements with Video River Networks on accounting and financial disclosure matters?
No, the filing explicitly states that there were no disagreements between Video River Networks and Sadler, Gibb & Associates, LLC on any matter of accounting principles or financial statement disclosure.
Has Video River Networks appointed a new independent registered public accounting firm?
No, as of the date of this filing, Video River Networks has not yet appointed a new independent registered public accounting firm.
When was the dismissal of Sadler, Gibb & Associates, LLC effective?
The dismissal of Sadler, Gibb & Associates, LLC was effective as of June 25, 2024.
What is the filing date of this 8-K report?
This 8-K report was filed on June 26, 2024, reporting events as of June 20, 2024.
Filing Stats: 465 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2024-06-25 21:53:18
Key Financial Figures
- $0.0001 — registered Common Stock, par value of $0.0001 NIHK OTCMKTS Item 4.01. Changes i
Filing Documents
- form8-k.htm (8-K) — 35KB
- ex99-1.htm (EX-99.1) — 4KB
- ex99-1_001.jpg (GRAPHIC) — 278KB
- ex99-1_002.jpg (GRAPHIC) — 271KB
- ex99-1_003.jpg (GRAPHIC) — 161KB
- 0001493152-24-025177.txt ( ) — 1189KB
- nihk-20240620.xsd (EX-101.SCH) — 3KB
- nihk-20240620_lab.xml (EX-101.LAB) — 33KB
- nihk-20240620_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
From the Filing
UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 20, 2024 Video River Networks, Inc. (Exact name of registrant as specified in its charter) Nevada File Number: 0-30786 87-0627349 (State of incorporation) (Commission File Number) (IRS Employer Identification No.) 370 Amapola Ave . , Suite 200A , Torrance , CA 90501 (Address of principal executive offices) (Zip Code) ( 310 ) 895-1839 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Securities registered pursuant to Section l 2(b) of the Act: Title of each class Trading Trading Symbol(s) Name of each exchange on which registered Common Stock, par value of $0.0001 NIHK OTCMKTS Item 4.01. Changes in Registrant's Certifying Accountant. On June 20, 2024, the Board of Directors of Video River Networks, Inc. (the "Company"), approved the disengagement of DylanFloyd Accounting & Consulting ("DylanFloyd") as the Company's independent registered public accounting firm. On June 20, 2024, the Board of Directors (the "Board") of Video River Networks, Inc. (the "Company") approved the engagement of OLAYINKA OYEBOLA & CO. ("OLAYINKA OYEBOLA & CO.") as the Company's new independent registered public accounting firm for years starting with current calender year ending December 31, 2024 going forward, and other reviews related to the Company's quarterly reports starting with current quarter of June 30, 2024. The change became effective upon OLAYINKA OYEBOLA & CO.'s completion of its standard client acceptance process and execution of attached engagement letter. Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Letter of OLAYINKA OYEBOLA & CO. dated June 20, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. Video River Networks, Inc. Dated: June 25, 2024 By: /s/ Frank I Igwealor Frank I Igwealor, CPA, JD, CMA, CFM President and CEO