SAI.TECH Global Corporation Form 6-K Summary
Business Context and Reporting Period
This Form 6-K covers May 2022 and was filed on May 31, 2022 by SAI.TECH Global Corporation, a foreign private issuer that files annual reports on Form 20-F. The filing reports a change in the Company’s independent registered public accounting firm.
Financial Metrics and Liquidity
The filing does not provide current-period revenue, profit, cash flow, margins, debt, liquidity, or other operating and financial metrics.
Material Changes
- On May 30, 2022, the Board approved the immediate dismissal of Friedman LLP as the Company’s independent registered public accounting firm.
- Friedman’s report covering the period from January 26, 2021, inception, through December 31, 2021, contained no adverse opinion, disclaimer, qualification, or modification relating to uncertainty, audit scope, or accounting principles.
- The Company reported no disagreements with Friedman regarding accounting principles, financial statement disclosure, or audit scope or procedures during the audited period or subsequent interim periods through May 30, 2022.
- The Company also reported no reportable events under Item 16F(a)(1)(v) of Form 20-F.
- On May 30, 2022, the audit committee approved Audit Alliance LLP as the new independent registered public accounting firm.
Outlook, Risks, and Unusual Items
The filing contains no financial guidance or business outlook. The auditor transition is the principal unusual corporate event disclosed. Audit Alliance LLP had not previously been consulted by the Company regarding accounting principles, potential audit opinions, disagreements, or reportable events before its engagement.
The Company provided Friedman with the relevant disclosures and requested that Friedman submit a letter to the SEC. Friedman’s response is included as Exhibit 99.1.
Investor Verification Points
- Verify the auditor transition from Friedman LLP to Audit Alliance LLP and the effective date of May 30, 2022.
- Review Exhibit 99.1 for Friedman’s letter to the SEC.
- Confirm the auditor’s report and any subsequent disclosures in the Company’s Form 20-F and later filings.
- Note that this Form 6-K does not provide updated financial results or liquidity information.