Business Context and Reporting Period
This Form 8-K is filed by Verb Technology Company, Inc. (trading symbol: VERB) on April 18, 2023. The report discloses a change in the company's independent registered public accounting firm. The company is incorporated in Nevada and its principal executive offices are located in Lehi, Utah.
Key Financial Metrics
This filing does not contain specific financial performance data such as revenue, profit, cash flow, or debt levels. However, it notes that the outgoing auditor's reports for the fiscal years ended December 31, 2022, and 2021 included an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.
Material Changes
- Dismissal of Auditor: On April 18, 2023, the company dismissed Weinberg & Company, P.A. as its independent registered public accounting firm. This action was approved by the Audit Committee on April 17, 2023.
- Engagement of New Auditor: Effective April 18, 2023, the Audit Committee engaged Grassi & Co., CPAs, P.C. as the new independent registered public accounting firm. Grassi will commence audits for the quarter ending March 31, 2023, and the fiscal year ending December 31, 2023.
- Audit History: There were no disagreements between the company and Weinberg regarding accounting principles, practices, or audit scope during the relevant periods. No reportable events occurred.
Guidance, Outlook, and Risks
The filing does not provide forward-looking guidance, management commentary on future operations, or specific risk factors beyond the previously disclosed going concern uncertainty. The primary risk highlighted is the change in auditors, which may impact investor confidence, though the company states there were no disagreements with the former firm.
Investor Verification Checklist
- Verify the reasons for the auditor change, specifically whether the "substantial doubt" regarding going concern status has been resolved.
- Review the letter from Weinberg & Company, P.A. (Exhibit 16.1) to confirm their agreement with the company's statements regarding the dismissal.
- Monitor upcoming financial reports audited by Grassi & Co. to assess the new auditor's findings on the company's financial health.
- Check for any subsequent filings that might detail the financial status of the company as of the most recent quarter.