Business Context and Reporting Period
This Form 8-K is filed by Atlantic Acquisition Corp. (not HF Foods Group Inc.) on January 2, 2018. The report discloses a change in the registrant's certifying accountant. The company is an emerging growth company incorporated in Delaware.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the administrative change of the independent registered public accounting firm.
Material Changes
- Accountant Change: On January 2, 2018, the Company engaged Friedman LLP as its new independent registered public accounting firm.
- Dismissal: Marcum LLP was dismissed on the same date.
- Approval: The decision was approved by the Company's Audit Committee.
- Prior Audit Status: Marcum's audit report for the year ended December 31, 2016, did not contain an adverse or disclaimer opinion. However, it noted substantial doubt about the Company's ability to continue as a going concern.
- Disagreements: There were no disagreements between the Company and Marcum regarding accounting principles, practices, or auditing scope for the period ended December 31, 2016, through January 2, 2018.
- Consultations: No consultations occurred with Friedman LLP regarding accounting principles or reportable events prior to their engagement.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on operations, or specific risk factors beyond the historical note of "substantial doubt" regarding the going concern status found in the prior auditor's report. No unusual items or contingencies were disclosed in this specific report.
Investor Verification Checklist
- Verify the reason for the "substantial doubt" regarding the going concern status noted in the 2016 audit report.
- Confirm the current financial status and liquidity position of Atlantic Acquisition Corp. post-2016.
- Review the letter from Marcum LLP (Exhibit 16.1) for any additional context on the dismissal.
- Clarify the discrepancy between the requested company name (HF Foods Group Inc.) and the filing registrant (Atlantic Acquisition Corp.).