Business Context and Reporting Period
This Form 8-K filing by iSpecimen Inc. (ISPC) reports a change in the registrant's certifying accountant. The report date is March 7, 2025, with the document signed on March 11, 2025. The company is an emerging growth company incorporated in Delaware.
Key Financial Metrics
This filing does not contain revenue, profit, cash flow, margin, debt, or liquidity figures. The document focuses exclusively on the transition of the independent registered public accounting firm.
Material Changes
- Resignation of Auditor: Wolf & Company, P.C. resigned as the independent registered public accounting firm effective March 7, 2025.
- Appointment of New Auditor: Bush & Associates CPA LLC was appointed as the new independent registered public accounting firm on March 10, 2025, following Audit Committee approval.
- Audit History: Wolf & Company's audit reports for fiscal years 2022 and 2023 did not contain adverse opinions or disclaimers. However, the 2023 report included an explanatory paragraph regarding the uncertainty of the Company's ability to continue as a going concern.
- Disagreements: There were no disagreements between the Company and Wolf & Company on accounting matters or auditing procedures during the relevant periods.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, management commentary on future operations, or specific risk factors beyond the historical going concern uncertainty noted in the 2023 audit report. The Company confirmed no consultations with the new auditor regarding accounting principles or potential audit opinions prior to their appointment.
Investor Verification Checklist
- Verify the content of the letter from Wolf & Company, P.C. (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the resignation.
- Review the most recent 10-K or 10-Q filings to assess the current status of the "going concern" uncertainty mentioned in the 2023 audit report.
- Confirm the timeline for the new auditor's engagement and any potential impact on the filing of the 2024 fiscal year financial statements.