Business Context and Reporting Period
Company: Focus Universal Inc. (FCUV)
Filing Type: Form 8-K (Current Report)
Date of Report: January 19, 2023
Reporting Period: Event date January 19, 2023; relates to the fiscal year ended December 31, 2022.
Key Financial Metrics
This filing does not contain financial performance data. The document reports a corporate governance event regarding the change of the independent registered public accounting firm. No revenue, profit, cash flow, margins, debt, or liquidity figures are provided in this text.
Material Changes
- Termination of Former Auditor: On January 19, 2023, the Company dismissed BF Borgers CPA PC as its independent registered public accounting firm.
- Reason for Termination: The dismissal was due to partner and personnel movement from the former auditor to the new auditor.
- Engagement of New Auditor: On January 19, 2023, the Company engaged Reliant CPA PC as its new independent PCAOB registered public accounting firm for the fiscal year ended December 31, 2022.
- Approval: The engagement of the new auditor was approved by the Audit Committee and the Board of Directors.
Management Commentary, Risks, and Contingencies
- Disagreements: The Company reported no disagreements with the former auditor (BF Borgers CPA PC) regarding accounting principles, financial statement disclosure, or auditing scope/procedures during the years ended December 31, 2021 and 2020, or through the date of this report.
- Reportable Events: No reportable events as defined in Item 304(a)(1)(v) of Regulation S-K occurred during the relevant periods.
- Consultations with New Auditor: The Company has not consulted with the new auditor (Reliant CPA PC) regarding the application of accounting principles to specified transactions or the type of audit opinion that might be rendered. No written reports or oral advice were provided that were considered important factors in decision-making.
- Exhibits: A letter from the former auditor (BF Borgers CPA PC) addressed to the SEC is attached as Exhibit 16.1.
Investor Verification Checklist
- Verify the independence and qualifications of the new auditor, Reliant CPA PC.
- Review the attached letter from BF Borgers CPA PC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the termination.
- Monitor future filings (e.g., 10-K) for the audit opinion issued by Reliant CPA PC for the fiscal year ended December 31, 2022.
- Confirm that the personnel movement cited as the reason for the change did not result in any undisclosed conflicts of interest.