Business Context and Reporting Period
This Form 8-K filing by American Battery Technology Company (ABAT) reports a corporate governance event dated January 4, 2024. The company is incorporated in Nevada and its common stock trades on The Nasdaq Stock Market LLC. The report details a change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing is a current report regarding a change in auditors and does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The filing references prior financial statements for fiscal years ended June 30, 2023, and June 30, 2022, but does not provide specific numerical values for those periods.
Material Changes
- Dismissal of Auditor: The Board of Directors, upon the recommendation of the Audit Committee, dismissed Marcum LLP as the independent registered public accounting firm.
- Appointment of New Auditor: The Board appointed KPMG LLP as the new independent registered public accounting firm for the fiscal year ending June 30, 2024, and related interim periods.
- Audit History: Marcum's reports for the fiscal years ended June 30, 2023, and June 30, 2022, contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with Marcum on accounting principles, practices, or auditing scope during the two most recent fiscal years and the subsequent interim period through January 4, 2024.
- Reportable Events: The only reportable events disclosed were material weaknesses in internal control over financial reporting, previously disclosed in the company's 10-Q filings for periods ended September 30, 2022, December 31, 2022, March 31, 2023, and September 30, 2023, and in the 10-K for fiscal years ended June 30, 2023, and June 30, 2022.
Guidance, Outlook, and Risks
The filing does not provide forward-looking guidance, management commentary on business outlook, or new risk factors. The primary risk context provided relates to the previously disclosed material weaknesses in internal controls over financial reporting, which were the subject of the "reportable events" noted during the tenure of the former auditor.
Investor Verification Checklist
- Verify the status of the material weaknesses in internal controls previously disclosed in 10-Q and 10-K filings to understand the rationale for the auditor change.
- Review the letter from Marcum LLP (Exhibit 16.1) filed with this report to confirm their agreement with the company's statements regarding the dismissal.
- Monitor upcoming filings to assess the impact of the new auditor (KPMG LLP) on the audit process for the fiscal year ending June 30, 2024.
- Confirm that no other undisclosed disagreements or reportable events exist between the company and the former auditor.