Better Choice Co Inc. Files 8-K on Accountant Change
Ticker: SRXH · Form: 8-K · Filed: Jul 12, 2024 · CIK: 1471727
Sentiment: neutral
Topics: auditor-change, financial-reporting
TL;DR
BCII auditor change filed 8-K, check financials.
AI Summary
On July 12, 2024, Better Choice Company Inc. filed an 8-K report. The filing primarily concerns changes in the registrant's certifying accountant and includes financial statements and exhibits. The company is incorporated in Delaware and its principal executive offices are located at 12400 Race Track Road, Tampa, Florida.
Why It Matters
This filing indicates a change in the company's auditor, which could signal shifts in financial reporting or internal controls.
Risk Assessment
Risk Level: medium — Changes in certifying accountants can sometimes precede or coincide with financial irregularities or restatements.
Key Numbers
- 001-40477 — Commission File Number (Identifies the company's SEC filing history.)
- 83-4284557 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Better Choice Company Inc. (company) — Registrant
- July 12, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 12400 Race Track Road, Tampa, Florida 33626 (address) — Principal Executive Offices
- Sport Endurance, Inc. (company) — Former Company Name
FAQ
What is the specific reason for the change in Better Choice Company Inc.'s certifying accountant?
The provided text states 'Changes in Registrant's Certifying Accountant' as an item of information, but does not detail the specific reason for the change.
When was the former company name 'Sport Endurance, Inc.' officially changed?
The date of the name change from 'Sport Endurance, Inc.' to Better Choice Company Inc. was September 4, 2009.
What is the primary business classification for Better Choice Company Inc. according to the SIC code?
Better Choice Company Inc. is classified under 'BEVERAGES [2080]' according to its Standard Industrial Classification code.
What is the telephone number listed for Better Choice Company Inc.'s principal executive offices?
The telephone number listed for Better Choice Company Inc.'s principal executive offices is (212) 896-1254.
Which state is Better Choice Company Inc. incorporated in?
Better Choice Company Inc. is incorporated in Delaware.
Filing Stats: 906 words · 4 min read · ~3 pages · Grade level 14.8 · Accepted 2024-07-12 16:15:30
Key Financial Figures
- $0.001 — nge on which registered Common Stock, $0.001 par value share BTTR NYSE American
Filing Documents
- form8-k.htm (8-K) — 50KB
- ex16-1.htm (EX-16.1) — 1KB
- ex16-1_001.jpg (GRAPHIC) — 53KB
- 0001493152-24-027095.txt ( ) — 294KB
- bttr-20240712.xsd (EX-101.SCH) — 3KB
- bttr-20240712_lab.xml (EX-101.LAB) — 33KB
- bttr-20240712_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): July 12, 2024 Better Choice Company Inc. (Exact name of Registrant as Specified in its Charter) Delaware 001-40477 83-4284557 (State or other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) 12400 Race Track Road Tampa , Florida 33626 (Address of Principal Executive Offices) (Zip Code) (Registrant's Telephone Number, Including Area Code): (212) 896-1254 N/A (Former name or former address, if changed since last report.) 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)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.001 par value share BTTR NYSE American Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). 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. Item 4.01 Change in Registrant's Certifying Accountant. On July 9, 2024, the Company notified BDO USA, P.C. ("BDO") that it was being dismissed as the Company's independent registered public accounting firm. On July 12, 2024, the Board of Directors of the Company, upon the recommendation of the audit committee, approved the dismissal of BDO as the Company's independent registered public accounting firm, and approved and ratified the engagement of Marcum LLP ("Marcum") as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2024. With the exception of a "going concern" qualification, BDO's report on the Company's consolidated financial statements as of and for the fiscal years ended December 31, 2022 and 2023 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles. Furthermore, during the Company's two most recent fiscal years and through July 12, 2024, there were (i) no disagreements (as described in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and BDO on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which, if not resolved to BDO's satisfaction, would have caused BDO to make reference thereto in their reports on the financial statements for such years, and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K, other than the material weaknesses reported by management in the Company's annual report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the U.S. Securities and Exchange Commission (the "Commission") on April 12, 2024 related to (i) failure to maintain controls over the operating effectiveness of cybersecurity and IT general controls; (ii) insufficient policies and procedures to review, analyze, account for and disclose complex transactions; (iii) failure to design and maintain controls over the operating effectiveness of revenue recognition controls. The material weakness related to the failure to maintain controls over the operating effectiveness of cybersecurity and IT general controls was remediated as of March 31, 2024. The Company provided BDO with a copy of the above disclosures and requested that BDO furnish a letter addressed to the Commission stating whether or not it agrees with the above statements. A copy of BDO's letter is filed hereto as Exhibit 16.1. During the two most recent fiscal years and any subsequent interim periods prior to the engagement of Marcum, neither the Company nor anyone acting on its behalf, has consulted with Marcum regarding (i) the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements or the effectiveness of internal control over financial