Business Context and Reporting Period
This Form 6-K filing by Farmmi, Inc. covers the month of June 2021. The registrant is a foreign private issuer based in Lishui, Zhejiang Province, People's Republic of China. The filing primarily addresses corporate governance changes, specifically the resignation of an independent director and the dismissal of the company's certifying accountant.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on non-financial corporate events and auditor changes rather than financial performance data.
Material Changes
- Board Resignation: On June 3, 2021, Mr. Ningfang Liang resigned as an independent director, chair and financial expert of the audit committee, and member of the nominating and compensation committees. The resignation was stated to be for personal reasons with no disagreement with the registrant.
- Board Appointment: On June 3, 2021, the Board appointed Qinyi Fu to fill the vacant seat. Mr. Fu, a PRC Certified Public Accountant and partner at Da Hua Certified Public Accountants, assumed the roles of independent director, chair and financial expert of the audit committee, and member of the nominating and compensation committees.
- Auditor Change: On June 4, 2021, the Audit Committee and Board approved the appointment of YCM CPA Inc. for the fiscal year ending September 30, 2021, and the dismissal of Friedman LLP. The change is effective upon the completion of Friedman LLP's review of the interim consolidated financial results for the six months ended March 31, 2021.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. Regarding risks and contingencies, the registrant confirmed that during the two most recent fiscal years and the interim period through June 3, 2021, there were no disagreements with the former auditor, Friedman LLP, on accounting principles, practices, or auditing scope. Furthermore, no "reportable events" occurred during this period, and the prior auditor's reports did not contain adverse opinions, disclaimers, or qualifications.
Key Facts for Investor Verification
- Verify the qualifications and independence of the newly appointed independent director, Qinyi Fu.
- Confirm the effective date of the transition from Friedman LLP to YCM CPA Inc. and the status of the interim financial review.
- Review the letter from Friedman LLP (Exhibit 99.1) to ensure no undisclosed disagreements exist regarding the financial statements.
- Note that this filing does not contain updated financial results; investors should refer to the upcoming Form 6-K containing the interim consolidated financial results for the six months ended March 31, 2021.