Business Context and Reporting Period
This Form 8-K Current Report was filed by Addentax Group Corp. on April 18, 2023. The company is incorporated in Nevada and its common stock trades on the Nasdaq Capital Market under the symbol ATXG. The report primarily addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. This report focuses exclusively on corporate governance regarding the audit firm.
Material Changes
The material change reported is the replacement of the company's independent auditor:
- Outgoing Firm: BF Borgers CPA PC ("Borgers") was released effective April 20, 2023. Borgers had served as the independent accountant since September 28, 2020, covering fiscal years ended March 31, 2021, and 2022.
- Incoming Firm: Pan-China Singapore PAC ("Pan-China") was engaged as the new independent registered public accounting firm, effective April 20, 2023.
- Audit History: The company stated that during Borgers' tenure, there were no disagreements regarding accounting principles, financial statement disclosures, or auditing scope. No reportable events under Regulation S-K occurred.
Guidance, Outlook, and Risks
The filing contains no management commentary regarding financial guidance, future outlook, or specific business risks. The company confirmed that no consultations were held with the new firm, Pan-China, regarding accounting principles or audit opinions prior to their engagement. The outgoing firm, Borgers, provided a letter to the SEC (Exhibit 16.1) regarding the release.
Investor Verification Checklist
- Verify the reasons for the auditor change by reviewing the attached letter from BF Borgers CPA PC (Exhibit 16.1).
- Confirm the effective date of the new auditor, Pan-China Singapore PAC, is April 20, 2023.
- Review subsequent filings (e.g., 10-K or 10-Q) to assess the impact of the auditor change on future financial reporting.
- Check for any regulatory correspondence or comments from the SEC regarding this change in certifying accountant.