Business Context and Reporting Period
This Form 8-K Current Report was filed by LightPath Technologies, Inc. on November 13, 2024. The report addresses a change in the company's independent registered public accounting firm. The company is incorporated in Delaware and its Class A Common Stock trades on The Nasdaq Stock Market under the symbol LPTH.
Key Financial Metrics
This filing is a current report regarding a corporate governance event and does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. No financial metrics are provided in this document.
Material Changes
The primary material change reported is the resignation of the company's independent registered public accounting firm:
- Resigning Firm: MSL, P.A. resigned effective November 21, 2024.
- Reason for Resignation: MSL entered into a transaction with Forvis Mazars, LLP on November 1, 2024, whereby substantially all shareholders and employees of MSL became partners and employees of Forvis Mazars.
- Audit History: MSL's audit reports for fiscal years ended June 30, 2024, and 2023 were unqualified (no adverse opinions, disclaimers, or modifications).
- Disagreements: The company reported no disagreements with MSL regarding accounting principles, practices, or auditing scope during the relevant periods.
Guidance, Outlook, and Risks
Successor Selection: The Audit Committee of the Board of Directors has initiated a process to select a successor independent registered public accounting firm for the fiscal year ending June 30, 2025.
Contingencies and Unusual Items: The filing notes that MSL was provided a copy of this report and requested to furnish a letter to the SEC regarding their agreement with the disclosures. A letter from MSL dated November 15, 2024, is filed as Exhibit 16.1. No other risks, contingencies, or unusual items are detailed in this specific filing.
Investor Verification Checklist
- Verify the identity of the successor independent registered public accounting firm once selected by the Audit Committee.
- Review the letter from MSL, P.A. (Exhibit 16.1) to confirm their stance on the disclosures made in this report.
- Monitor future filings (e.g., 10-K or 10-Q) for the first financial statements audited by the new accounting firm.
- Confirm that the transition between MSL and Forvis Mazars does not impact the timeliness of future financial reporting.