Erayak Power Solution Group Inc. — Form 6-K Summary
Business Context and Reporting Period
Erayak Power Solution Group Inc., a foreign private issuer that files annual reports on Form 20-F, filed this Form 6-K for October 2023. The filing, dated October 16, 2023, reports a change in the Company’s independent registered public accounting firm.
Change in Independent Auditor
- On October 12, 2023, the Company dismissed TPS Thayer as its independent registered public accounting firm.
- The Audit Committee and Board of Directors approved the auditor change.
- TPS Thayer’s audit reports on the Company’s financial statements for the fiscal years ended December 31, 2022 and 2021 contained no adverse opinion, disclaimer of opinion, qualification, or modification related to uncertainty, audit scope, or accounting principles.
- The Company reported no disagreements with TPS Thayer regarding accounting principles, financial statement disclosure, or audit scope and procedures during fiscal 2022 through October 12, 2023.
- The Company also reported no reportable events under Item 304(a)(1)(v) of Regulation S-K.
- On October 12, 2023, the Company appointed Fortune CPA Inc. as its new independent registered public accounting firm.
- The Company stated that neither it nor anyone acting on its behalf consulted Fortune CPA Inc. during the two most recent fiscal years or subsequent interim periods before its engagement regarding accounting principles, audit opinions, disagreements, or reportable events.
Financial Metrics and Material Changes
The filing does not provide revenue, profit, cash flow, margins, debt, liquidity, guidance, or other operating and financial metrics. It also does not disclose a material change in the Company’s financial results versus a prior comparable period.
Outlook, Risks, and Unusual Items
The principal unusual item is the replacement of the independent auditor. The filing does not identify disagreements, reportable events, audit qualifications, or specific accounting concerns associated with the change. TPS Thayer was provided a copy of the report and requested to furnish the SEC with a letter stating whether it agrees with the Company’s disclosures; that letter is identified as Exhibit 16.1.
Investor Verification Checklist
- Review Exhibit 16.1 for TPS Thayer’s response to the Company’s statements.
- Confirm Fortune CPA Inc.’s engagement and the scope and timing of its audit work.
- Review the Company’s subsequent Form 20-F and other filings for any audit issues, delayed filings, restatements, or changes in financial reporting controls.
- Obtain the Company’s underlying financial statements separately, as this Form 6-K does not provide current financial results or liquidity information.