Filing Overview
This Form 8-K was filed by Hanryu Holdings, Inc. on January 22, 2024, regarding a change in the company’s independent registered public accounting firm. The filing identifies Hanryu Holdings, Inc., not Global Interactive Technologies, Inc., as the registrant.
Business Context and Reporting Period
The report covers events occurring in January 2024. Hanryu Holdings is incorporated in Delaware, is headquartered in Seoul, Republic of Korea, trades under the symbol HRYU on Nasdaq, and qualifies as an emerging growth company.
Auditor Change
- The Audit Committee conducted a competitive selection process involving several international public accounting firms.
- OneStop Assurance, PAC was appointed as the company’s independent registered public accounting firm on January 4, 2024.
- The Board of Directors approved the appointment on January 16, 2024, following its review of OneStop Assurance’s services.
- BF Borgers CPA, PC, which served as the auditor for the company’s IPO, was replaced.
- The filing states that there were no disagreements with the former auditor regarding accounting principles or practices, financial statement disclosure, or audit scope or procedures that would have required disclosure.
Financial Metrics and Liquidity
This filing does not provide revenue, earnings, cash flow, margins, debt, liquidity, balance-sheet figures, or other operating financial metrics.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, an operating outlook, management forecasts, contingencies, or discussion of unusual financial items. The auditor change may warrant review of subsequent filings for any changes in audit conclusions, internal controls, or financial reporting matters.
Important Facts to Verify
- Confirm the registrant’s identity, because the submitted metadata names Global Interactive Technologies, Inc., while the filing names Hanryu Holdings, Inc.
- Review Exhibit 16.1, consisting of OneStop Assurance, PAC’s engagement letter dated November 24, 2023, and the company’s acceptance dated January 16, 2024.
- Verify the effective dates and scope of OneStop Assurance’s engagement in the company’s next periodic report.
- Monitor subsequent filings for any disclosure of audit qualifications, internal-control deficiencies, restatements, or disagreements not identified in this filing.