Business Context and Reporting Period
This Form 8-K Current Report was filed by Lifemd, Inc. on September 8, 2022. The report addresses a change in the company's independent registered public accounting firm effective September 1, 2022, and the subsequent engagement of a new firm for the fiscal year ending December 31, 2022.
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 corporate governance regarding the external auditor.
Material Changes
- Accountant Change: The Audit Committee approved the dismissal of Friedman LLP and the engagement of Marcum LLP as the independent registered public accounting firm.
- Background: Friedman LLP had served as the auditor since 2020. The change follows a combination where Friedman became a wholly-owned subsidiary of Marcum LLP.
- Effective Date: The transition was effective immediately on September 8, 2022.
Management Commentary and Risks
Management confirmed that Friedman LLP's reports for the years ended December 31, 2021, and December 31, 2020, contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Furthermore, the company stated there were no disagreements with Friedman LLP during the two most recent fiscal years or the interim period through September 8, 2022, concerning accounting principles, financial statement disclosures, or auditing procedures.
Investor Verification Checklist
- Verify the content of the letter from Friedman LLP filed as Exhibit 16.1 to confirm their agreement with the company's statements regarding the dismissal.
- Monitor future filings to ensure Marcum LLP's initial audit reports do not reveal previously undisclosed issues.
- Review the company's next quarterly or annual report for any restatements or adjustments resulting from the auditor transition.