Business Context and Reporting Period
This Form 8-K Current Report was filed by Focus Universal Inc. on January 12, 2024. The registrant is incorporated in Nevada and its common stock trades on the Nasdaq Global Market under the symbol FCUV. The report primarily addresses a change in the company's independent registered public accounting firm.
Key Financial Metrics
The filing text does not provide specific financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. This report is a disclosure of corporate governance changes rather than a financial performance statement.
Material Changes
- Termination of Former Auditor: On January 12, 2024, the Company dismissed Reliant CPA PC as its independent registered public accounting firm.
- Engagement of New Auditor: On January 5, 2024, the Company engaged Weinberg & Company, P.A. as its new independent PCAOB registered public accounting firm for the fiscal year ended December 31, 2023.
- Approval: The engagement of the new auditor was approved by the Audit Committee and the Board of Directors.
Management Commentary, Risks, and Contingencies
Disagreements and Reportable Events: The Company stated that during the year ended December 31, 2022, and through the date of this report, there were no disagreements with the former auditor regarding accounting principles, practices, financial statement disclosures, or auditing scope. Additionally, there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.
Consultations with New Auditor: During the two most recent fiscal years and through the engagement date, the Company did not consult with the new auditor regarding the application of accounting principles to specified transactions or the type of audit opinion that might be rendered. No written reports or oral advice were provided by the new auditor that were considered important factors in the Company's decision-making.
Exhibits: The filing includes a letter from Reliant CPA PC (Exhibit 16.1) addressed to the SEC regarding the dismissal.
Investor Verification Checklist
- Verify the effective date of the auditor transition (January 5, 2024 for engagement; January 12, 2024 for termination notice).
- Review the attached letter from Reliant CPA PC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings (e.g., 10-K) to assess the impact of the auditor change on the audit opinion for the fiscal year ended December 31, 2023.
- Confirm that no undisclosed disagreements or reportable events exist by cross-referencing with the new auditor's initial reports.