Celsius Holdings, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Celsius Holdings, Inc. on May 15, 2017. The report addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses solely on corporate governance regarding the audit firm.
Material Changes
- Accountant Change: The Company's former auditor, D'Arelli Pruzansky, P.A. ("DPP"), merged with Assurance Dimensions, Inc. ("ADI") effective May 3, 2017.
- New Engagement: ADI was engaged as the independent registered public accounting firm effective May 15, 2017, approved by the audit committee.
- Historical Audit Status: DPP's reports for the years ended December 31, 2016 and 2015 contained no adverse opinions, disclaimers, or qualifications.
- No Disagreements: There were no disagreements with DPP regarding accounting principles, practices, or audit scope during the two-year period ended December 31, 2016, or the subsequent period through the filing date.
- No Reportable Events: No "reportable events" as defined in Regulation S-K Item 304(a)(1)(v) occurred.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. No risks or contingencies related to financial operations were disclosed in this specific report. The transition of the audit firm was a result of a merger between the firms, not a dispute.
Investor Verification Checklist
- Verify the continuity of the audit engagement with Assurance Dimensions, Inc. (ADI).
- Confirm that the merger between DPP and ADI did not result in any undisclosed disagreements regarding prior financial statements.
- Review the attached letter from D'Arelli Pruzansky, P.A. (Exhibit 16.1) to confirm their agreement with the Company's statements.
- Note that this filing does not contain updated financial results; refer to the most recent 10-K or 10-Q for financial metrics.