Business Context and Reporting Period
This Form 8-K Current Report was filed by Wrap Technologies, Inc. on April 24, 2024. The report discloses a material event regarding the resignation of the Company's independent registered public accounting firm.
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 change in the Company's certifying accountant.
Material Changes
- Resignation of Auditor: On April 24, 2024, the Company received notice that Rosenberg Rich Baker Berman, P.A. ("RRBB P.A.") resigned as its independent registered public accounting firm, effective immediately.
- Audit History: RRBB P.A. audited the financial statements for fiscal years ended December 31, 2022, and December 31, 2021. Their reports did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
- No Disagreements: The Company reported no disagreements with RRBB P.A. on accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the relevant periods. No "reportable events" occurred.
- Replacement Status: The Company is currently interviewing candidates to replace the auditor and expects to make a final selection soon.
Guidance, Outlook, and Risks
The filing includes a standard cautionary note regarding forward-looking statements. Management highlighted specific risks associated with this event, including the possibility that the Company may be unable to select and engage a new auditor. The Company states it undertakes no obligation to update these statements based on new information or future events.
Investor Verification Checklist
- Verify the timeline for the appointment of a new independent registered public accounting firm.
- Review the attached letter from RRBB P.A. (Exhibit 16.1) to confirm their agreement with the Company's disclosures regarding the resignation.
- Monitor subsequent filings for any delays in the audit process or potential impacts on the timeliness of future financial reports.
- Check for any undisclosed "reportable events" or disagreements that may have arisen after the date of this filing.