Boxlight Corp Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by Boxlight Corporation on August 30, 2018. The Company is incorporated in Nevada and identifies as an emerging growth company. The report primarily addresses a change in the Company's independent registered public accountants.
Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. However, it notes that the prior auditor's reports for the fiscal years ended December 31, 2017, and 2016, contained explanatory paragraphs regarding uncertainty as to the Registrant's ability to continue as a going concern.
Material Changes
- Accountant Change: On August 30, 2018, Boxlight dismissed GBH CPAs, PC and engaged Dixon Hughes Goodman LLP (DHG) as its new independent registered public accountants.
- Audit Committee Approval: The engagement of DHG was approved by the Audit Committee of the Board of Directors.
- No Disagreements: The Company reported no disagreements with the former auditor (GBH) regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the fiscal years 2016 and 2017 or through August 30, 2018.
- No Reportable Events: There were no "reportable events" as defined in Item 304(a)(1)(v) of Regulation S-K during the relevant periods.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the previously noted going concern uncertainty. The Company confirmed it did not consult with the new auditor (DHG) regarding any accounting applications, potential audit opinions, or matters that could have been subjects of disagreement prior to their engagement.
Key Facts for Investor Verification
- Verify the content of the letter from GBH CPAs, PC (Exhibit 16.1) to confirm their stance on the statements made by the Company regarding the change in auditors.
- Review the most recent audited financial statements to assess the current status of the "going concern" uncertainty noted in prior years.
- Confirm the effective date of the new engagement with Dixon Hughes Goodman LLP is immediate as of August 30, 2018.