Business Context and Reporting Period
This Form 6-K filing by AirMedia Group Inc. (referred to in metadata as Yueda Digital Holding) covers the month of March 2017. The report was filed on March 17, 2017, by the Company, a foreign private issuer headquartered in Beijing, China.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is a current event disclosure regarding corporate governance and does not contain financial statement data.
Material Changes
The primary material change disclosed is the replacement of the Company's independent registered public accounting firm. Marcum Bernstein & Pinchuk LLP ("Marcum BP") replaced Deloitte Touche Tohmatsu Certified Public Accountants LLP ("Deloitte") effective March 3, 2017.
Management Commentary and Risks
Management explicitly stated that the decision to change auditors was not the result of any disagreement between the Company and Deloitte regarding accounting principles, financial statement disclosure, or auditing scope and procedures. The appointment of Marcum BP was approved by the audit committee of the board of directors.
Investor Verification Checklist
- Verify the effective date of the new auditor appointment (March 3, 2017).
- Confirm the identity of the new independent auditor (Marcum Bernstein & Pinchuk LLP).
- Review the Company's subsequent filings to ensure no undisclosed disagreements with the former auditor (Deloitte) have arisen.
- Check the Company's next Form 20-F for the first financial statements audited by the new firm.