Business Context and Reporting Period
This Form 8-K is a current report filed by Bond Laboratories, Inc. (not Fitlife Brands, Inc.) on January 7, 2010. The filing discloses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Appointment of New Auditor: Tarvaran, Askelson & Company, LLP ("TAC") was appointed as the independent registered public accounting firm effective January 7, 2010.
- Dismissal of Former Auditor: Jewett, Schwartz, Wolfe, & Associates ("JSW") was dismissed as the independent auditors effective January 7, 2010. JSW had been engaged since August 18, 2006.
- Audit History: The reports issued by JSW for the fiscal years ended December 31, 2008, and December 31, 2007, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements with JSW on accounting principles, practices, or auditing scope during the two most recent completed fiscal years or through the date of dismissal.
- Reportable Events: No "reportable events" occurred during the two most recent completed fiscal years or through the date of dismissal.
- Consultations: The company did not consult with the new auditor (TAC) regarding accounting principles, audit opinions, or reportable events prior to their engagement.
Guidance, Outlook, and Risks
The filing includes a standard cautionary note regarding forward-looking statements. Management states that projections concerning operations, cash flows, and financial performance are subject to risks and uncertainties and should not be relied upon as guarantees. The company disclaims any duty to update these statements after the filing date.
Investor Verification Checklist
- Verify the reason for the auditor change by reviewing the letter from the former auditor (JSW) submitted as Exhibit 16.1.
- Confirm the qualifications and independence of the new auditor, Tarvaran, Askelson & Company, LLP.
- Review the most recent Form 10-K or 10-Q to obtain actual financial performance data, as this 8-K contains no financial figures.
- Monitor future filings for any restatements of prior financial statements resulting from the change in auditors.