UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 4.01 Changes in Registrant’s Certifying Accountant.
(a) Resignation of Registered Public Accounting Firm
Effective July 8, 2024, Accell Audit and Compliance, P.A. (“Accell”) resigned as the Company’s independent registered accounting firm. Accell advised the Company that it was ceasing to provide PCAOB audit services.and that certain of the audit principals of Accell were now a part of Astra Audit and Advisory, LLP (“Astra”).. Accell issued the auditor’s report on the Company’s financial statements for the fiscal years ended June 30, 2023 and 2022.
Other than an explanatory paragraph included in Accell’s audit report for the Company’s fiscal years ended June 30, 2023 and 2022 relating to the uncertainty of the Company’s ability to continue as a going concern, the audit report of Accell on the Company’s financial statements for the fiscal years ended June 30, 2023 and 2022 did not contain an adverse opinion or disclaimer of opinion, and such report was not qualified or modified as to uncertainty, audit scope, or accounting principle.
During the Company’s fiscal years ended June 30, 2023 and 2022 and any subsequent interim period through July 8, 2024, the date of the resignation of Accell, there were no disagreements with Accell on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to Accell’s satisfaction, would have caused Accell to make reference to the subject matter of the disagreements in connection with their report on the Company’s consolidated financial statements for such years; and there were not reportable events, as listed in Item 304(a)(l)(v) of Regulation S-K.
The Company has provided Accell with a copy of the disclosure contained in this Form 8-K and requested in writing that Accell furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with such disclosures. Accell provided a letter, dated August 1, 2024, stating its agreement with such statements, which is attached as Exhibit 16.1 to this Form 8-K.
(b) Engagement of New Independent Registered Public Accounting Firm.
Effective July 17, 2024, the Board of Directors of the Company approved the appointment of Astra as its independent registered public accountant. During the Company’s most recent fiscal years ended June 30, 2023 and 2022 and subsequent interim periods through the date of appointment, neither the Company nor anyone acting on its behalf has consulted with Astra with respect to: (i) the application of accounting principles to a specified transaction, either completed or proposed, (ii) the type of audit opinion that might be rendered on the Company’s consolidated financial statements, or (iii) any other matter or reportable events listed in Items 304(a)(2)(i) and (ii) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits |
(d) Exhibits
Letter dated August 1, 2024 from Accell to the Securities and Exchange Commission | |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| XERIANT, INC. |
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Date: August 1, 2024 | By: | /s/ Keith Duffy |
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| Keith Duffy, Chief Executive Officer |
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