Business Context and Reporting Period
This Form 8-K is a current report filed by Blackboxstocks Inc. (trading symbol: BLBX) on December 26, 2024, regarding events occurring on December 20, 2024. The registrant is incorporated in Nevada and reports on the NASDAQ Capital Market. The filing addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document notes that audit reports for the years ended December 31, 2023, and 2022, included an explanatory paragraph regarding the company's ability to continue as a going concern.
Material Changes
- Dismissal of Auditor: On December 20, 2024, the company dismissed Turner, Stone & Company, L.L.P. as its independent registered public accounting firm. This action was approved by the audit committee.
- Appointment of New Auditor: On December 20, 2024, the company engaged Victor Mokuolo CPA PLLC as its new independent registered public accounting firm to audit the consolidated financial statements for the year ended December 31, 2024.
- No Disagreements: The company reported no disagreements with the former auditor regarding accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years and subsequent interim periods.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, revenue outlook, or management commentary on future operations. The primary risk factor highlighted is the historical "going concern" qualification noted in prior audit reports. The company confirmed that no reportable events occurred with the former auditor that would have required reference in their reports.
Investor Verification Checklist
- Verify the content of the letter from Turner, Stone & Company, L.L.P. (Exhibit 16.1) to confirm they agree with the company's statements regarding the dismissal.
- Review the most recent 10-K or 10-Q filings to assess the current status of the "going concern" qualification mentioned in prior audits.
- Confirm the qualifications and independence of the newly appointed auditor, Victor Mokuolo CPA PLLC.
- Monitor future filings for the 2024 audit report to ensure no new material weaknesses or disagreements arise.