Business Context and Reporting Period
Company: LOGPROSTYLE INC.
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: February 7, 2025
Reporting Period: February 2025
Context: The filing discloses a change in the registrant's certifying accountant. The Company engaged Bush & Associates CPA LLC as its new independent registered public accounting firm effective January 23, 2025, and dismissed its former auditor, Grassi & Co., CPAs P.C., on February 5, 2025.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This document is a disclosure of auditor changes and does not contain financial statement data.
Material Changes Versus Prior Period
- Accountant Change: Transition from Grassi & Co., CPAs P.C. to Bush & Associates CPA LLC.
- Audit History: Grassi's audit reports for fiscal years ended March 31, 2024, and 2023 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: No disagreements occurred between the Company and Grassi on accounting principles, practices, or auditing scope during the two most recent fiscal years or the interim period through the dismissal date.
- Reportable Events: No reportable events occurred other than material weaknesses in internal controls previously disclosed by management in the Company's Form F-1 registration statement (filed November 15, 2024).
Guidance, Outlook, and Risks
Management Commentary: The Company confirmed that no consultations were held with the new auditor (Bush & Associates) regarding accounting principles or audit opinions prior to their engagement. Grassi & Co. has provided a letter agreeing with the Company's statements regarding the dismissal and lack of disagreements.
Risks and Contingencies: The filing references previously disclosed material weaknesses in the Company's internal controls over financial reporting as noted in the Form F-1 registration statement. No new risks or contingencies are detailed in this specific filing.
Investor Verification Checklist
- Verify the status of remediation for the material weaknesses in internal controls disclosed in the Form F-1 registration statement.
- Review the letter from Grassi & Co., CPAs P.C. (Exhibit 16.1) to confirm their concurrence with the Company's statements.
- Monitor upcoming filings for the first financial statements audited by Bush & Associates CPA LLC.
- Confirm if the change in auditors impacts the timing or scope of future financial reporting.