Business Context and Reporting Period
This Form 6-K filing by Freight Technologies, Inc. covers the month of July 2024. The report primarily addresses a change in the Company's independent registered public accounting firm, effective July 4, 2024.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current report regarding corporate governance and audit matters rather than a financial results announcement.
Material Changes
- Dismissal of Former Auditor: The Company dismissed UHY LLP as its independent registered public accounting firm effective July 4, 2024.
- Appointment of New Auditor: Marcum LLP was appointed by the Audit Committee on June 20, 2024, to serve as the new independent registered public accounting firm.
- Audit History: Audit reports for fiscal years ended December 31, 2023, and 2022 contained no adverse opinions, disclaimers, or qualifications.
Management Commentary and Risks
The Audit Committee recommended and approved the change in auditors. The Company states there were no "disagreements" with UHY regarding accounting principles, financial statement disclosure, or auditing scope during the two most recent fiscal years or the interim period through July 4, 2024. Additionally, no "reportable events" occurred during these periods. Marcum LLP was not consulted by the Company regarding accounting principles or audit opinions prior to its engagement.
Investor Verification Checklist
- Verify the transition timeline between UHY LLP and Marcum LLP to ensure no gaps in audit coverage.
- Review the attached letter from UHY LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings for the first financial statements audited or reviewed by Marcum LLP.
- Confirm that the change in auditors was not precipitated by undisclosed accounting disputes.