SEC Filing Summary: Ring Energy, Inc. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Ring Energy, Inc. on March 25, 2021. The report discloses a change in the Company's independent registered public accounting firm for the fiscal year ending December 31, 2021.
Key Financial Metrics
The filing does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document is strictly procedural regarding the appointment of auditors.
Material Changes
- Dismissal of Prior Auditor: The Audit Committee dismissed Eide Bailly LLP as the independent registered public accounting firm effective March 25, 2021.
- Engagement of New Auditor: The Audit Committee engaged Grant Thornton LLP to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2021, subject to the execution of an engagement letter.
- Audit History: The audit reports issued by Eide Bailly for the fiscal years ended December 31, 2020, and 2019, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, audit scope, or accounting principles.
Management Commentary and Risks
The Company confirmed that during the fiscal years ended December 31, 2020 and 2019, and the subsequent period through March 25, 2021, there were no disagreements with Eide Bailly on accounting principles, financial statement disclosures, or auditing scope. Additionally, no reportable events occurred under Regulation S-K Item 304(a)(1)(v). The Company also confirmed no consultations with Grant Thornton LLP regarding accounting principles or audit opinions prior to their engagement.
Investor Verification Checklist
- Verify the execution of the engagement letter with Grant Thornton LLP.
- Review the letter from Eide Bailly LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings for the first audit report issued by Grant Thornton LLP for the fiscal year ending December 31, 2021.