Precipio, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Precipio, Inc. (PRPO) on April 9, 2025. The report addresses a change in the company's independent registered public accounting firm. The filing covers events occurring on April 9, 2025, and references the fiscal years ended December 31, 2024, and 2023.
Key Financial Metrics
This filing does not contain financial performance data. There are no disclosures regarding revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
- Resignation of Former Auditor: Marcum LLP resigned as the independent registered public accounting firm on April 9, 2025. This resignation is a direct result of CBIZ CPAs P.C. acquiring Marcum's attest business on November 1, 2024.
- Appointment of New Auditor: On April 9, 2025, the Audit Committee engaged CBIZ CPAs P.C. as the new independent registered public accounting firm.
- Audit History: The audit reports issued by Marcum for the fiscal years ended December 31, 2024, and 2023 were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
Outlook, Risks, and Management Commentary
Management confirmed that during the fiscal years ended December 31, 2024 and 2023, and the subsequent period through April 10, 2025, there were no "disagreements" or "reportable events" between the Company and Marcum LLP regarding accounting principles, financial statement disclosures, or auditing scope. Similarly, no consultations regarding accounting principles or disagreements occurred with CBIZ prior to their appointment. The filing includes a letter from Marcum LLP (Exhibit 16.1) confirming their agreement with the Company's statements.
Investor Verification Checklist
- Verify the transition timeline and scope of work between Marcum LLP and CBIZ CPAs P.C. to ensure audit continuity.
- Review the letter from Marcum LLP (Exhibit 16.1) for any additional context regarding the resignation.
- Monitor future filings for the first audit report issued by CBIZ to confirm the absence of any new qualifications or disagreements.
- Confirm that the change in auditor does not signal underlying financial distress, given the explicit statement of no disagreements.