Business Context and Reporting Period
This Form 8-K Current Report was filed by American Battery Metals Corporation on July 7, 2021, covering events occurring on July 1, 2021. The filing primarily addresses a change in the company's independent registered public accounting firm and an update to its corporate headquarters location.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. However, it notes that the former auditor's reports for the fiscal year ended September 30, 2019, and the nine months ended June 30, 2020, included an explanatory paragraph describing conditions that raised substantial doubt about the Company's ability to continue as a going concern.
Material Changes
- Change in Auditor: The Company dismissed Pinnacle Accountancy Group of Utah (dba Heaton & Company, PLLC) effective June 30, 2021. The firm had served as auditor from July 8, 2015, through June 30, 2021.
- New Auditor Engagement: Marcum LLP was engaged as the new independent public accounting firm effective July 1, 2021, to audit the consolidated financial statements for the year ending June 30, 2021.
- Headquarters Relocation: Effective July 1, 2021, the corporate headquarters moved to 401 S Ryland Street, Suite 138, Reno, NV 89502.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, financial outlook, or management commentary regarding future operations. The primary risk disclosed is the historical "substantial doubt about the Company's ability to continue as a going concern" noted in prior audit reports. The Company confirmed there were no disagreements with the former auditor regarding accounting principles, practices, or auditing scope.
Investor Verification Checklist
- Verify the reasons for the dismissal of the former auditor and the selection of Marcum LLP.
- Review the former auditor's consent letter (Exhibit 16.1) for any additional disclosures regarding the going concern qualification.
- Confirm the Company's current liquidity status and ability to continue operations given the historical going concern warning.
- Check subsequent filings for the audited financial statements for the year ended June 30, 2021, prepared by the new auditor.