Network-1 Technologies Changes Auditors
Ticker: NTIP · Form: 8-K · Filed: Dec 13, 2024 · CIK: 1065078
| Field | Detail |
|---|---|
| Company | Network-1 Technologies, Inc. (NTIP) |
| Form Type | 8-K |
| Filed Date | Dec 13, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
TL;DR
Network-1 swapped auditors, no drama reported.
AI Summary
Network-1 Technologies, Inc. announced on December 12, 2024, a change in its certifying accountant. The company has dismissed its former independent registered public accounting firm, WithumSmith+Brown, PC, effective December 12, 2024. This change is not related to any disagreements or reportable events.
Why It Matters
A change in a company's auditor can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting.
Risk Assessment
Risk Level: low — The filing indicates the change in auditor was not due to any disagreements, suggesting low immediate risk.
Key Players & Entities
- Network-1 Technologies, Inc. (company) — Registrant
- WithumSmith+Brown, PC (company) — Former independent registered public accounting firm
- December 12, 2024 (date) — Date of dismissal of former auditor
FAQ
When was the change in certifying accountant effective?
The change in certifying accountant was effective December 12, 2024.
Who was Network-1 Technologies, Inc.'s former independent registered public accounting firm?
The former independent registered public accounting firm was WithumSmith+Brown, PC.
Were there any disagreements between Network-1 Technologies, Inc. and WithumSmith+Brown, PC?
No, the filing explicitly states that there were no disagreements or reportable events.
Did WithumSmith+Brown, PC audit Network-1 Technologies, Inc.'s financial statements for any recent periods?
While not explicitly stated in this excerpt, the dismissal implies that WithumSmith+Brown, PC had been the auditor for recent periods.
What is the primary reason for this 8-K filing?
This 8-K filing is to report a change in the registrant's certifying accountant.
Filing Stats: 575 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-12-13 15:58:31
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share NTIP NYSE American Chec
Filing Documents
- form8k.htm (8-K) — 30KB
- 0001072613-24-000920.txt ( ) — 198KB
- ntip-20241212.xsd (EX-101.SCH) — 3KB
- ntip-20241212_lab.xml (EX-101.LAB) — 33KB
- ntip-20241212_pre.xml (EX-101.PRE) — 22KB
- form8k_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (b) Engagement of Grassi & Co., CPAs, P.C. . On December 12, 2024, the Audit Committee of Network-1 Technologies, Inc. ("Network-1") engaged Grassi & Co., CPAs, P.C.("Grassi") as the Company's independent registered public accounting firm for the years ended December 31, 2024 and December 31,2025, effective immediately. On November 13, 2024, Marcum LLP resigned as Network-1's independent registered public accounting firm due to a conflict of interest related to services performed by CBIZ, Inc., which recently acquired Marcum, LLP( see Network-1's Current Report on Form 8-K filed on November 14, 2024). During the fiscal years ended December 31, 2023 and December 31, 2022 and the subsequent interim period through December 12, 2024, neither Network-1 nor anyone on its behalf consulted with Grassi regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on Network-1's financial statements, and neither a written report or oral advice was provided that Grassi concluded was an important factor considered by Network-1 in reaching a decision as to any accounting, auditing or financial reporting issue or (ii) any matter that was the subject of a disagreement within the meaning of
(a)(1)(iv) of Regulation S-K or a reportable event within the meaning of Item 304 (a)(1)(v) of Regulation S-K
Item 304(a)(1)(iv) of Regulation S-K or a reportable event within the meaning of Item 304 (a)(1)(v) of Regulation S-K. -2- 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. NETWORK-1 TECHNOLOGIES, INC. Dated: December 13 , 2024 By: /s/ Corey M. Horowitz Name:Corey M. Horowitz Title:Chairman and Chief Executive Officer -3-