Business Context and Reporting Period
This Form 8-K filing by Ring Energy, Inc. covers the event date of September 1, 2013. The report details a change in the company's independent registered public accounting firm.
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 audit firm.
Material Changes
- Accountant Resignation: Hansen, Barnett & Maxwell, P.C. (HBM) resigned as the independent registered public accounting firm effective September 1, 2013.
- Reason for Change: HBM entered into an agreement with Eide Bailly LLP, which acquired HBM's operations on the same date. Professional staff and shareholders of HBM joined Eide Bailly.
- New Appointment: Concurrent with the resignation, the Audit Committee engaged Eide Bailly LLP as the new independent registered public accounting firm.
- Audit History: HBM's reports for fiscal years ended December 31, 2012, and 2011 contained no adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Disagreements: There were no disagreements with HBM on accounting principles, practices, or audit scope during the past two fiscal years or through September 1, 2013.
Guidance, Outlook, and Risks
The filing does not contain financial guidance, outlook, or management commentary on operational performance. No specific risks or contingencies related to the company's business operations were disclosed in this report, other than the transition of the audit firm.
Investor Verification Checklist
- Verify the effective date of the engagement letter with Eide Bailly LLP.
- Confirm that the transition of audit responsibilities did not result in any undisclosed disagreements with the prior firm.
- Review the attached Letter from Hansen, Barnett & Maxwell, P.C. (Exhibit 99.1) for any additional context on the resignation.
- Monitor future filings for the first audit report issued by Eide Bailly LLP.