Riot Platforms, Inc. (Riot Blockchain, Inc.) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Riot Blockchain, Inc. on January 4, 2018. The report discloses a change in the company's independent registered public accounting firm. The company is incorporated in Nevada and maintains its principal executive offices in Castle Rock, Colorado.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the administrative change of the external auditor.
Material Changes
- Dismissal of Auditor: On January 4, 2018, the company dismissed EisnerAmper LLP as its independent registered public accounting firm.
- Engagement of New Auditor: On January 5, 2018, the company engaged MNP LLP as its new independent registered public accounting firm.
- Audit History: The report from EisnerAmper for the fiscal year ended December 31, 2016, did not contain an adverse opinion, disclaimer, or qualification. It did include an explanatory paragraph regarding adjustments to 2015 financial statements to reflect a reverse stock split.
- Disagreements: The company reported no disagreements with EisnerAmper regarding accounting principles, practices, or auditing scope during the engagement period (February 3, 2017, through January 4, 2018).
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of specific business risks. The primary disclosure relates to the transition of accounting services. The company confirmed that no reportable events occurred during the prior auditor's engagement period.
Investor Verification Checklist
- Verify the reasons for the dismissal of EisnerAmper LLP, as the filing states no disagreements occurred.
- Confirm the qualifications and independence of the newly engaged firm, MNP LLP.
- Review the attached Exhibit 16.1 (Letter from EisnerAmper LLP) to ensure the former auditor agrees with the company's disclosures.
- Monitor upcoming filings for the first financial statements audited by MNP LLP.