Business Context and Reporting Period
This Form 8-K Current Report was filed by Optex Systems Holdings, Inc. on January 18, 2017. The report discloses a change in the company's independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance regarding the audit firm.
Material Changes
- Resignation of Prior Auditor: On January 13, 2017, the Company dismissed PMB Helin Donovan, LLP ("PMB") as its independent registered public accounting firm. This decision was made by the Board of Directors on the recommendation of the Audit Committee on January 9, 2017.
- Engagement of New Auditor: On January 16, 2017, the Board of Directors engaged Whitley Penn LLP ("WP") as the new independent registered public accounting firm.
- Audit History: PMB's reports for the fiscal years ended October 2, 2016, and September 27, 2015, did not contain adverse opinions, disclaimers, or qualifications. The Company reported no disagreements with PMB regarding accounting principles, practices, or auditing scope during the two most recent fiscal years or through the date of dismissal.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies related to operations were disclosed, other than the standard disclosure regarding the change in auditors. The Company confirmed that no reportable events occurred during PMB's retention period.
Investor Verification Checklist
- Verify the reasons for the dismissal of PMB Helin Donovan, LLP, as the filing states no disagreements occurred.
- Confirm the qualifications and independence of the newly engaged firm, Whitley Penn LLP.
- Review the attached letter from PMB Helin Donovan, LLP (Exhibit 16.1) to ensure they agree with the Company's statements regarding the dismissal.
- Monitor future filings for the first financial statements audited by Whitley Penn LLP.