Business Context and Reporting Period
This Form 8-K is a current report filed by EnerJex Resources, Inc. (not Ageagle Aerial Systems Inc.) on July 16, 2013. The report discloses a change in the company's independent registered public accounting firm effective July 15, 2013.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document is strictly a disclosure regarding the appointment and dismissal of auditors.
Material Changes
- Appointment of New Auditor: The Audit Committee engaged L.L. Bradford & Company, LLC as the independent registered public accounting firm for the fiscal year ending December 31, 2013.
- Dismissal of Prior Auditor: The Audit Committee dismissed Weaver Martin & Samyn, LLC, which served as the independent auditor for the fiscal years ended December 31, 2012, and December 31, 2011.
- Audit History: The reports issued by Weaver Martin & Samyn, LLC for the 2011 and 2012 fiscal years were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, audit scope, or accounting principles.
- Disagreements: The company reported no disagreements with the former auditor on accounting principles, financial statement disclosures, or auditing scope/procedures.
Guidance, Outlook, and Risks
The filing contains no management guidance, financial outlook, or discussion of business risks. It confirms that no consultations occurred with the new auditor (L.L. Bradford & Company, LLC) regarding accounting principles or potential audit opinions prior to their engagement. The former auditor (Weaver Martin & Samyn, LLC) provided a letter agreeing with the company's disclosures regarding the change.
Investor Verification Checklist
- Verify the reason for the auditor change, as the filing states no disagreements occurred.
- Review the letter from the former auditor (Exhibit 16.1) to confirm their concurrence with the company's statements.
- Check subsequent filings to ensure the new auditor (L.L. Bradford & Company, LLC) issues an unqualified opinion for the 2013 fiscal year.
- Note the discrepancy between the requested company name (Ageagle Aerial Systems Inc.) and the actual registrant (EnerJex Resources, Inc.).