Business Context and Reporting Period
Company: FOCUS UNIVERSAL INC.
Filing Type: Form 8-K (Current Report)
Date of Report: October 20, 2015
Reporting Period: The filing addresses events occurring on October 13, 2015, and references the two most recent fiscal years ended March 31, 2015, and March 31, 2014, as well as the interim period through August 30, 2015.
Key Financial Metrics
This filing does not contain financial performance data. The document does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
The primary material change reported is the resignation of the registrant's certifying accountant due to a merger of the auditor's practice.
- Resignation of Auditor: Cutler & Company effectively resigned as the independent registered public accounting firm on October 13, 2015, following the merger of its SEC auditing practice with Pritchett, Siler & Hardy ("PS&H").
- Engagement of New Auditor: The Company engaged DYH & Company, a PCAOB registered independent public accounting firm, following a competitive process.
- Auditor Disagreements: The Company reported no disagreements with Cutler & Company regarding GAAP, financial statement disclosures, or auditing scope/procedures during the two most recent fiscal years or the interim period through August 30, 2015.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of future risks. The document is strictly a notification of the change in accounting firm. No unusual items or contingencies were disclosed in this report.
Investor Verification Checklist
- Verify the effective date of the engagement letter with the new auditor, DYH & Company.
- Review the letter from Cutler & Company to the SEC (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the absence of disagreements.
- Confirm that the transition of audit responsibilities from Cutler & Company to DYH & Company will not impact the timing of future financial statement filings.