Australian Oilseeds Holdings Ltd current report, Q2 FY2024

Full document

Australian Oilseeds Holdings Limited — Form 6-K Summary

Business Context and Reporting Period

This Form 6-K reports a change in the company’s independent registered public accounting firm. The earliest reported event occurred on May 6, 2024, and the report was signed on May 10, 2024. The company is incorporated in the Cayman Islands and operates from Cootamundra, Australia.

Financial Metrics and Liquidity

The filing does not provide current-period revenue, profit, cash flow, margins, debt, liquidity, or other operating financial metrics.

Material Change Versus the Prior Comparable Period

  • On May 6, 2024, the board dismissed BF Borgers CPA PC as the company’s independent registered public accounting firm.
  • The dismissal followed a May 3, 2024 SEC order permanently barring BF Borgers and its sole audit partner, Benjamin F. Borgers, from appearing or practicing before the SEC.
  • BF Borgers had issued reports on the company’s financial statements for the fiscal years ended December 31, 2023 and 2022. Those reports were not adverse, disclaimed, or qualified or modified regarding uncertainty, audit scope, or accounting principles.
  • The company reported no disagreements or reportable events with BF Borgers during fiscal years 2023 and 2022 or the subsequent interim period through May 6, 2024.

Guidance, Outlook, Risks, Contingencies, and Unusual Items

  • The company has begun searching for a new independent registered public accounting firm.
  • It expects to file a Form 8-K when a successor auditor is formally engaged.
  • Because BF Borgers is barred from SEC practice, the company did not request or include a letter from BF Borgers addressing the disclosures.
  • The auditor change may create financial reporting, filing, and audit-completion risk, although the filing does not identify a disagreement, reportable event, or accounting qualification.

Important Facts for Investors to Verify

  • Whether and when the company appoints a replacement independent registered public accounting firm.
  • Whether subsequent SEC filings contain any effect from the auditor transition, including amended filings, delayed filings, or revised financial statements.
  • The status and reliability of the company’s fiscal 2022 and 2023 audited financial statements following the SEC action against BF Borgers.
  • Any additional disclosures regarding audit procedures, internal controls, or financial reporting risks.