OLB GROUP, INC. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by The OLB Group, Inc. on January 30, 2015, reporting events that occurred on February 3, 2015. The filing addresses a change in the Company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The document notes that the prior auditor's report for the fiscal year ended December 31, 2013, included an explanatory paragraph regarding uncertainty about the Company's ability to continue as a going concern.
Material Changes
- Dismissal of Auditor: On February 3, 2015, the Company dismissed HJ & Associates, LLC, which had served as its independent registered accountant since December 2004.
- Engagement of New Auditor: On February 3, 2015, the Company engaged Liggett, Vogt & Webb P.A. as its new independent registered accountants.
- Audit History: There were no disagreements with the former auditor (HJ) regarding accounting principles, financial statement disclosures, or auditing scope/procedures.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the historical "going concern" uncertainty noted in the 2013 audit report. The Company confirmed that no consultations occurred with the new auditor (Liggett) regarding accounting principles or reportable events prior to their engagement.
Investor Verification Checklist
- Verify the reasons for dismissing HJ & Associates, LLC after a tenure of over 10 years.
- Review the most recent financial statements to assess the current status of the "going concern" uncertainty previously noted.
- Confirm the scope of the engagement with the new auditor, Liggett, Vogt & Webb P.A.
- Check for any subsequent filings that may provide updated financial performance data.