XERIANT, INC. Changes Independent Auditor
Ticker: XERI · Form: 8-K · Filed: Aug 5, 2024 · CIK: 1481504
| Field | Detail |
|---|---|
| Company | Xeriant, Inc. (XERI) |
| Form Type | 8-K |
| Filed Date | Aug 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, financial-reporting
TL;DR
XERIANT swapped auditors from BF Borgers to MaloneBailey, effective Aug 2.
AI Summary
XERIANT, INC. announced on July 8, 2024, a change in its certifying accountant. The company's previous independent registered public accounting firm, BF Borgers CPA PC, was dismissed, and the company has engaged MaloneBailey LLP as its new independent registered public accounting firm, effective August 2, 2024.
Why It Matters
A change in auditors can sometimes signal underlying issues or a desire for a fresh perspective on financial reporting, which investors should monitor.
Risk Assessment
Risk Level: medium — Changes in auditors can sometimes precede or coincide with financial reporting issues or restatements.
Key Players & Entities
- XERIANT, INC. (company) — Registrant
- BF Borgers CPA PC (company) — Former Certifying Accountant
- MaloneBailey LLP (company) — New Certifying Accountant
- July 8, 2024 (date) — Date of earliest event reported
- August 2, 2024 (date) — Effective date of new auditor engagement
FAQ
When was XERIANT, INC.'s previous auditor dismissed?
The filing indicates the dismissal of BF Borgers CPA PC as the company's independent registered public accounting firm.
Who is XERIANT, INC.'s new independent auditor?
XERIANT, INC. has engaged MaloneBailey LLP as its new independent registered public accounting firm.
When did the change in auditors become effective?
The engagement of MaloneBailey LLP as the new independent registered public accounting firm is effective August 2, 2024.
Did the former auditor report any disagreements with XERIANT, INC.?
The filing does not explicitly state any disagreements with BF Borgers CPA PC, but it does mention that the decision to dismiss was made by the Audit Committee.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is July 8, 2024.
Filing Stats: 817 words · 3 min read · ~3 pages · Grade level 13.9 · Accepted 2024-08-02 20:50:43
Filing Documents
- xeri_8k.htm (8-K) — 26KB
- xeri_ex161.htm (EX-16.1) — 5KB
- xeri_ex161img1.jpg (GRAPHIC) — 6KB
- 0001477932-24-004522.txt ( ) — 157KB
- xeri-20240708.xsd (EX-101.SCH) — 6KB
- xeri-20240708_lab.xml (EX-101.LAB) — 13KB
- xeri-20240708_cal.xml (EX-101.CAL) — 1KB
- xeri-20240708_pre.xml (EX-101.PRE) — 8KB
- xeri-20240708_def.xml (EX-101.DEF) — 2KB
- xeri_8k_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. (a) Resignation of Registered Public Accounting Firm Effective July 8, 2024, Accell Audit and Compliance, P.A. ("Accell") resigned as the Company's independent registered accounting firm. Accell advised the Company that it was ceasing to provide PCAOB audit services.and that certain of the audit principals of Accell were now a part of Astra Audit and Advisory, LLP ("Astra").. Accell issued the auditor's report on the Company's financial statements for the fiscal years ended June 30, 2023 and 2022. Other than an explanatory paragraph included in Accell's audit report for the Company's fiscal years ended June 30, 2023 and 2022 relating to the uncertainty of the Company's ability to continue as a going concern, the audit report of Accell on the Company's financial statements for the fiscal years ended June 30, 2023 and 2022 did not contain an adverse opinion or disclaimer of opinion, and such report was not qualified or modified as to uncertainty, audit scope, or accounting principle. During the Company's fiscal years ended June 30, 2023 and 2022 and any subsequent interim period through July 8, 2024, the date of the resignation of Accell, there were no disagreements with Accell on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Accell's satisfaction, would have caused Accell to make reference to the subject matter of the disagreements in connection with their report on the Company's consolidated financial statements for such years; and there were not reportable events, as listed in Item 304(a)(l)(v) of Regulation S-K. The Company has provided Accell with a copy of the disclosure contained in this Form 8-K and requested in writing that Accell furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with such disclosures. Accell provided a let
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits 16.1 Letter dated August 1, 2024 from Accell to the Securities and Exchange Commission 104 Cover Page interactive Data File (embedded within the Inline XBRL document) 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 thereunto duly authorized. XERIANT, INC. Date: August 1, 2024 By: /s/ Keith Duffy Keith Duffy, Chief Executive Officer 3