Business Context and Reporting Period
This Form 6-K filing is submitted by Hexindai Inc. (NASDAQ: HX), a foreign private issuer, for the month of October 2018. The filing serves to clarify the status of previously published unaudited financial results for the quarter ended June 30, 2018 (referred to in the text as "2019 Q1 Results"). The company is based in Beijing, People's Republic of China.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references the existence of unaudited financial results prepared in accordance with U.S. GAAP but does not include the data tables or figures within this specific document.
Material Changes and Accounting Status
- Accounting Review Status: The financial results for the quarter ended June 30, 2018, were previously published as unaudited and had not been reviewed by an independent public accountant at the time of the initial press release.
- Engagement of Auditor: The Company has engaged Marcum Bernstein & Pinchuk LLP ("MarcumBP") as its independent registered public accounting firm to review interim financial information for the three months ended September 30, 2018, and subsequent periods.
- Future Amendments: The financial statements included in the previously filed results will be reviewed by MarcumBP. The Company indicated it will file necessary amendments to the Form 6-K furnishing those results once the review is complete.
Guidance, Outlook, and Risks
The filing does not contain specific guidance, outlook, or management commentary regarding future performance. It notes that as a foreign private issuer, the company is exempt from certain U.S. domestic rules, including the requirement to file quarterly reports on Form 10-Q and the requirement for interim financial statements to be reviewed by an independent accountant under Regulation S-X Rule 10-01(d).
Investor Verification Checklist
- Verify the specific financial figures (revenue, net income, cash flow) in the original press release for the quarter ended June 30, 2018, as they are not restated here.
- Monitor for future amendments to the Form 6-K regarding the June 30, 2018 results once the review by Marcum Bernstein & Pinchuk LLP is finalized.
- Confirm the company's status as a foreign private issuer and the implications for the frequency and audit status of future interim filings.