Business Context and Reporting Period
This Form 8-K is a current report filed by AIT Therapeutics, Inc. (not Beyond Air, Inc.) on April 17, 2019, regarding events that occurred on April 16, 2019. The company is an emerging growth company incorporated in Delaware. The filing addresses a change in the registrant's certifying accountant.
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
- Dismissal of Auditor: On April 16, 2019, the Company dismissed Marcum LLP as its independent registered public accounting firm. This action was approved by the Audit Committee and Board of Directors.
- Engagement of New Auditor: On April 16, 2019, the Company engaged Friedman LLP as its new independent registered public accounting firm for the fiscal year ending March 31, 2019.
- Audit Disagreements: The Company reported no disagreements with Marcum LLP regarding accounting principles, practices, financial statement disclosures, or auditing scope during the two most recent fiscal quarters (ended September 30, 2018, and December 31, 2018). No "reportable events" occurred.
- Consultations: No consultations were held with Friedman LLP regarding accounting principles or audit opinions during the two most recent fiscal years or subsequent interim periods prior to engagement.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding business operations. The primary risk disclosed is the transition of the independent audit firm, though the Company states the change was not due to any disagreement on accounting matters.
Investor Verification Checklist
- Verify the identity of the registrant as AIT Therapeutics, Inc., noting the discrepancy with the provided metadata name "Beyond Air, Inc."
- Review Exhibit 16.1 (Letter from Marcum LLP) to confirm the former auditor's agreement with the Company's statements regarding the dismissal.
- Monitor future filings to confirm the issuance of the first audit report by Friedman LLP for the fiscal year ending March 31, 2019.
- Check subsequent 10-K or 10-Q filings for any financial restatements or disclosures related to the period under Marcum LLP's tenure.