Business Context and Reporting Period
This Form 8-K is a current report filed by Olenox Industries Inc. on August 4, 2026. The filing discloses a change in the company's independent registered public accounting firm for the fiscal year ending December 31, 2026.
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 the auditor change and related disclosures.
Material Changes
- Auditor Dismissal: The Audit Committee approved the dismissal of RBSM LLP as the independent registered public accounting firm.
- New Auditor Appointment: Urish Popeck & Co, LLC was appointed as the new independent registered public accounting firm, formally engaged on August 5, 2026.
- Reason for Change: The change resulted from a competitive review process to select a new firm for the fiscal year ending December 31, 2026.
Management Commentary, Risks, and Contingencies
- Going Concern: RBSM's reports for the fiscal year ended December 31, 2025, included an explanatory paragraph regarding the Company's ability to continue as a going concern.
- Internal Control Weaknesses: The filing confirms previously disclosed material weaknesses in internal controls over financial reporting:
- Insufficient controls for the timely closing of accounting records due to a lack of resources and formal review procedures.
- Insufficient controls regarding the application of technical accounting guidance to complex or new transactions.
- No Disagreements: There were no disagreements with RBSM on accounting principles, practices, or audit scope that would have required reference in their reports.
- No Consultation with New Auditor: The Company did not consult with Urish Popeck & Co, LLC regarding accounting principles or reportable events prior to their engagement.
Investor Verification Checklist
- Verify the status of the "going concern" warning noted in the 2025 audit report.
- Review the Company's remediation plan for the disclosed material weaknesses in internal controls.
- Confirm the transition timeline and initial findings of the new auditor, Urish Popeck & Co, LLC.
- Examine the attached letter from RBSM LLP (Exhibit 16.1) for any additional context on the dismissal.