Business Context and Reporting Period
Company: Greenland Technologies Holding Corp. (GTEC)
Filing Type: Form 8-K (Current Report)
Date of Report: January 10, 2020
Date of Earliest Event: January 6, 2020
Context: The filing discloses a change in the Company's independent registered public accounting firm. The Company is an emerging growth company incorporated in the British Virgin Islands with principal executive offices in Hangzhou, China.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The material change reported is the replacement of the Company's independent auditor:
- Dismissed Firm: Marcum LLP was dismissed effective January 6, 2020.
- Appointed Firm: BDO China Shu Lun Pan Certified Public Accountants LLP was appointed effective January 6, 2020 to audit the fiscal year ending December 31, 2019.
- Historical Audit Status: Marcum's audit reports from inception (December 28, 2017) through November 30, 2018, did not contain adverse opinions, disclaimers, or qualifications.
Management Commentary, Risks, and Contingencies
Disagreements and Reportable Events: The Company states there were no disagreements with Marcum regarding accounting principles, practices, financial statement disclosure, or auditing scope/procedures during the period from inception through January 6, 2020. Additionally, there were no "reportable events" as defined in Regulation S-K.
Consultations with New Auditor: The Company has not consulted with BDO regarding any matters that would have been the subject of a disagreement or reportable event.
Verification: The Company provided the disclosures to Marcum and received a letter from the firm (filed as Exhibit 16.1) stating whether they agree with the statements regarding the dismissal.
Investor Verification Checklist
- Review Exhibit 16.1 (Letter from Marcum LLP) to confirm the former auditor's agreement with the Company's statements regarding the dismissal.
- Verify the transition timeline for the new auditor (BDO) to ensure no gaps in audit coverage for the fiscal year ending December 31, 2019.
- Monitor future filings (10-K/10-Q) for any restatements or qualifications in the financial statements resulting from the change in auditors.