Reservoir Media, Inc. Form 8-K Summary
Business Context and Reporting Period
Reservoir Media, Inc. filed a Form 8-K on August 9, 2021, reporting an event dated August 6, 2021. The filing concerns a change in the company’s independent registered public accounting firm following its business combination with Reservoir Holdings, Inc. The company was formerly known as Roth CH Acquisition II Co.
Auditor Change
- On August 6, 2021, the Audit Committee dismissed Marcum LLP as the company’s independent registered public accounting firm.
- The Audit Committee appointed Deloitte & Touche LLP to audit the company’s consolidated financial statements for the year ending March 31, 2022.
- Deloitte had previously served as the independent auditor of Reservoir Holdings, Inc.
Financial Metrics and Liquidity
The filing does not provide current revenue, profit, cash flow, margins, debt, liquidity, or other operating financial metrics.
Material Changes Versus the Prior Comparable Period
The material change reported is the replacement of Marcum LLP with Deloitte & Touche LLP as the company’s independent auditor. Marcum’s prior audit reports covering December 31, 2020 and 2019 financial statements were not adverse, disclaimed, qualified, or modified.
Management Commentary, Risks, and Unusual Items
- The company reported no disagreements with Marcum regarding accounting principles, financial statement disclosures, audit scope, or procedures during the relevant periods through August 6, 2021.
- The company reported no “reportable events” as defined under Item 304(a)(1)(v) of Regulation S-K.
- The company stated that neither it nor anyone acting on its behalf consulted Deloitte regarding specified accounting matters, potential audit opinions, disagreements, or reportable events before Deloitte’s appointment.
- Marcum provided a letter to the SEC regarding the company’s disclosures; the letter is filed as Exhibit 16.1.
- No guidance or forward-looking financial outlook is included in the filing.
Important Facts for Investors to Verify
- Confirm Deloitte’s appointment and Marcum’s dismissal in Exhibit 16.1 and subsequent filings.
- Review the company’s next financial statements for any effects associated with the auditor transition or the Reservoir Holdings business combination.
- Verify that subsequent filings disclose no disagreements, reportable events, or changes in audit conclusions.
- Note that this Form 8-K does not provide updated operating or financial performance information.