Power REIT Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Power REIT on November 14, 2014. The report addresses a change in the registrant's certifying accountant.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to corporate governance disclosures regarding the independent auditor.
Material Changes
On November 14, 2014, Power REIT received the resignation of CohnReznick LLP ("CRZ") as its independent registered public accounting firm. CRZ had been engaged on March 13, 2014, and performed the audit for the fiscal year ended December 31, 2013. The Company confirmed there were no disagreements with CRZ regarding accounting principles, practices, or financial statement disclosures, and no "reportable events" occurred during the interim period preceding the resignation.
Outlook and Risks
The filing does not contain guidance, management commentary on future operations, or specific risk factors beyond the standard disclosure of the auditor change. The Company requested and received a letter from CRZ agreeing with the disclosures made in this report.
Key Facts for Investors
- CohnReznick LLP resigned as the independent auditor on November 14, 2014.
- No disagreements or reportable events were cited as reasons for the resignation.
- CRZ audited the financial statements for the fiscal year ended December 31, 2013, without issuing an adverse or qualified opinion.
- The Company must now engage a new independent registered public accounting firm.