WiMi Hologram Cloud Inc. Form 6-K Summary
Business Context and Reporting Period
WiMi Hologram Cloud Inc. filed this Form 6-K for the month of July 2022. The report, dated July 13, 2022, concerns changes to the Company’s independent director and independent auditor.
Financial Metrics and Liquidity
The filing does not provide current-period revenue, profit, cash flow, margins, debt, liquidity, or other operating financial metrics.
Material Changes
- Yuanyuan Liu resigned as an independent director, and Dr. Harriet Ywan was appointed to fill the vacancy effective July 12, 2022.
- Friedman LLP was dismissed as the Company’s auditor effective June 25, 2022.
- Onestop Assurance PAC was appointed as successor auditor effective June 25, 2022, including for the financial year ending December 31, 2022.
Audit, Outlook, and Risks
- The Board and Audit Committee approved the auditor change after reviewing proposals and relevant factors.
- Friedman LLP’s audit reports for the years ended December 31, 2021 and 2020, and any subsequent period through dismissal, reportedly contained no adverse opinion, disclaimer, qualification, or modification relating to uncertainty, audit scope, or accounting principles.
- The Company reported no disagreements with Friedman LLP regarding accounting principles or practices, financial statement disclosures, or audit scope or procedures.
- The Company reported that no reportable events occurred during the two most recent fiscal years or the subsequent period through the auditor’s dismissal.
- The Company stated that it had not consulted Onestop Assurance PAC regarding accounting principles, potential audit opinions, disagreements, or reportable events before the appointment.
- The filing does not provide financial guidance or an operating outlook.
Investor Verification Items
- Review the qualifications, independence, and audit history of Onestop Assurance PAC.
- Confirm the effective dates and responsibilities associated with the independent director and auditor changes.
- Review Exhibit 99.2 for Friedman LLP’s letter to the SEC confirming or commenting on the Company’s statements.
- Assess subsequent filings for any audit qualifications, internal-control issues, financial restatements, or effects from the auditor transition.