XTI Aerospace, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by XTI Aerospace, Inc. on April 21, 2025. The report addresses a change in the Company's independent registered public accounting firm. The Company is incorporated in Nevada and its common stock trades on The Nasdaq Capital Market under the symbol "XTIA".
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
- Change in Certifying Accountant: The Company has appointed CBIZ CPAs P.C. ("CBIZ") as its independent registered public accounting firm for the fiscal year ending December 31, 2025.
- Effective Date: The appointment became effective on April 21, 2025, following the execution of an engagement letter.
- Reason for Change: The change resulted from CBIZ's acquisition of the attest business of Marcum LLP ("Marcum"), the Company's former auditor.
- Resignation of Prior Auditor: Marcum's resignation is effective upon the filing of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future performance. Regarding risks and contingencies, the Company confirmed that during the fiscal years ended December 31, 2024 and 2023, and the interim period through April 21, 2025:
- Neither the Company nor anyone on its behalf consulted with CBIZ regarding accounting principles, audit opinions, or reportable events.
- CBIZ did not provide any advice that was an important factor in the Company's decision-making regarding accounting or auditing issues.
- There were no disagreements or reportable events between the Company and CBIZ.
Investor Verification Checklist
- Verify the filing of the Annual Report on Form 10-K for the fiscal year ended December 31, 2024, to confirm the formal resignation of Marcum LLP.
- Review the engagement letter between XTI Aerospace, Inc. and CBIZ CPAs P.C. (referenced in the filing) for specific terms of the audit engagement.
- Monitor future filings for any disclosures regarding the transition of audit responsibilities between Marcum and CBIZ.