Business Context and Reporting Period
This Form 8-K is a current report filed by RumbleOn, Inc. (not Ridenow Group, Inc.) on September 13, 2023. The filing addresses a change in the company's independent registered public accounting firm effective as of the report date.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported figures for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Accountant Change: The company engaged BDO USA, LLP as its new independent registered public accounting firm effective September 13, 2023.
- Scope of Engagement: BDO will perform audit services for the fiscal quarter ending September 30, 2023, and the fiscal year ending December 31, 2023.
- Departure of Prior Firm: Grant Thornton, LLP ceased serving as the independent auditor on September 13, 2023, after previously notifying the company on May 22, 2023, that it would not stand for reappointment.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. Regarding risks and contingencies, the company confirmed that during the fiscal years ended December 31, 2021 and 2022, and the interim period through September 13, 2023, there were no "disagreements" or "reportable events" with the former auditor, Grant Thornton, nor were there any consultations with BDO regarding accounting principles or audit opinions prior to the engagement.
Investor Verification Checklist
- Verify the transition timeline between Grant Thornton and BDO to ensure no gap in audit coverage.
- Review the May 25, 2023 Form 8-K for the original disclosure regarding Grant Thornton's decision not to stand for reappointment.
- Confirm the Audit Committee's approval of the new engagement on September 12, 2023.
- Monitor upcoming filings for the first audit report issued by BDO for the quarter ending September 30, 2023.