Heartbeam, Inc. current report, 19 September 2022

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HeartBeam, Inc. Form 8-K Summary

Business Context and Reporting Period

HeartBeam, Inc. filed this Current Report on September 19, 2022, with the report signed on September 20, 2022. The filing reports a change in the Company’s independent registered public accounting firm under Item 4.01.

Financial Metrics and Liquidity

This filing does not provide current revenue, profit, cash flow, margins, debt, liquidity, or other operating metrics. It is limited to the change in independent auditors.

Material Change Versus Prior Period

  • Effective September 1, 2022, Friedman LLP combined with Marcum LLP, with Marcum as the surviving entity.
  • On September 19, 2022, the Audit Committee approved the dismissal of Friedman LLP and the engagement of Marcum LLP as the Company’s independent registered public accounting firm.
  • Marcum will provide the services previously provided by Friedman.

Guidance, Commentary, Risks, and Unusual Items

  • Friedman’s audit reports on the Company’s financial statements for the years ended December 31, 2021 and 2020 contained no adverse opinion, disclaimer of opinion, or qualification or modification relating to uncertainty, audit scope, or accounting principles.
  • The Company reported no disagreements with Friedman regarding accounting principles or practices, financial statement disclosure, or audit scope or procedures during the two most recent fiscal years and the subsequent interim period through September 19, 2022.
  • The Company also reported no reportable events during those periods.
  • The Company did not consult Marcum during the relevant periods regarding accounting principles, audit opinions, disagreements, or reportable events.
  • Friedman provided a letter concerning the pending combination with Marcum, filed as Exhibit 16.1.

Important Facts for Investors to Verify

  1. Review Exhibit 16.1, the letter from Friedman LLP to the Securities and Exchange Commission.
  2. Confirm that Marcum LLP is serving as HeartBeam’s independent registered public accounting firm following the Friedman-Marcum combination.
  3. Review subsequent filings for any changes in audit conclusions, reportable events, internal controls, or financial condition; this filing does not address those matters beyond the auditor transition.