SEC Filing Summary: GEN Restaurant Group, Inc. (GENK)
Business Context and Reporting Period
This Form 8-K Current Report was filed by GEN Restaurant Group, Inc. on April 22, 2025. The filing addresses a change in the Company's independent registered public accounting firm. The Company is incorporated in Delaware and its Class A Common Stock trades on The Nasdaq Global Market under the symbol "GENK."
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the change of auditors.
Material Changes
- Resignation of Former Auditor: Marcum LLP resigned as the Company's independent registered public accounting firm effective April 22, 2025.
- Engagement of New Auditor: CBIZ CPAs P.C. was engaged to serve as the independent registered public accounting firm for the year ending December 31, 2025. This engagement is effective beginning with the review of the condensed consolidated financial statements for the quarter ended March 31, 2025.
- Reason for Change: The change occurred because CBIZ CPAs acquired the attest business of Marcum LLP effective November 1, 2024.
- Audit History: Marcum's reports for the years ended December 31, 2024, and 2023 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: There were no disagreements between the Company and Marcum on accounting principles, practices, or auditing scope. The only "reportable events" were material weaknesses in internal control over financial reporting previously disclosed in the 2023 Form 10-K.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, or new risk factors. It confirms that the Audit Committee approved the engagement of CBIZ CPAs. The Company confirmed that no consultations were held with CBIZ CPAs regarding accounting principles or audit opinions prior to their engagement.
Investor Verification Checklist
- Verify the transition timeline for the review of the Q1 2025 financial statements by CBIZ CPAs.
- Review the previously disclosed material weaknesses in internal control over financial reporting from the 2023 Form 10-K to assess if they have been remediated.
- Confirm the status of the letter from Marcum LLP (Exhibit 16.1) regarding their agreement with the statements in this filing.
- Monitor upcoming filings for the first financial statements audited or reviewed by CBIZ CPAs.