Dalrada Financial Corporation Provides Update on Selection of New PCAOB Auditing Firm
Dalrada Financial (OTCQB:DFCO) has announced that it is actively interviewing several PCAOB auditing firms to replace Assurance Dimensions. The company expects to engage a new auditor shortly and file its Form 10-K for the year ending June 30, 2024. Assurance Dimensions resigned on October 11, 2024, just two business days before the Form 10-K filing deadline. They were originally engaged to review financials for Q1 2024 and audit the consolidated financial statements for FY 2024 and subsequent quarters.
CEO Brian Bonar emphasized the importance of maintaining agility and adaptability in the face of challenges, especially for a rapidly growing company. He expressed eagerness to find a new audit partner who understands Dalrada's diverse operations and can support its future growth.
- Company actively interviewing new PCAOB auditing firms
- Expectation to engage a new auditor shortly
- CEO's commitment to maintaining focus on business objectives despite challenges
- Resignation of previous auditor Assurance Dimensions
- Auditor resignation occurred two days before Form 10-K filing deadline
- Delay in filing Form 10-K for the year ending June 30, 2024
SAN DIEGO, CA / ACCESSWIRE / October 17, 2024 / Dalrada Financial Corporation(OTCQB:DFCO) ("Dalrada," "the Company"), announced today that the company is currently active in the process of interviewing several PCAOB auditing firms to replace Assurance Dimensions. The company expects to engage a PCAOB auditing firm shortly and file its form 10-K for the year end June 30th. 2024.
The company received notice of resignation from Assurance Dimensions on October 11th, 2024, two business days prior to the deadline to file its June 30th, 2024, Form 10-K, as stated in the 8-K filed on October 15th, 2024, https://www.sec.gov/ix?doc=/Archives/edgar/data/725394/000168316824007149/dalrada_8k.htm. Assurance Dimensions was engaged to review the financials for the quarter ended March 31, 2024, audit the consolidated financial statements for year ending June 30th, 2024, and the subsequent quarters.
Brain Bonar, CEO of Dalrada Financial Corp. stated, "When building a company experiencing rapid growth and achieving its business goals, we must maintain agility and adaptability to stay focused on our objectives, even when faced with challenges. As Dalrada continues to expand and thrive, I'm eager to find a new audit partner who understands our diverse operations and can support our growth in the years to come."
About Dalrada Financial Corporation
Dalrada Financial Corporation (OTCQB:DFCO) is a multi-national holding company that develops, manufactures, and sells a robust suite of products and services in the Clean Energy and Health Care sectors. Dalrada's core segments include Dalrada Climate Technology, which offers cutting-edge heat pump technology for industrial and residential applications, and Genefic Specialty Pharmacy, which provides end-to-end prescription services as well as patient advocacy and support.
Dalrada consistently drives innovation that delivers maximum impact, bringing increased value to its shareholders.
For more information, please visit www.dalrada.com, and follow us on LinkedIn, Facebook, Twitter, and YouTube.
Forward-Looking Statements
Statements contained in this press release, other than statements of historical fact, particularly statements relating to cost reductions and the anticipated pre-tax savings from the cost reduction program, restructuring costs, footprint rationalization, simplifying and streamlining our operations, reducing complexity, enhancing the speed of decision-making, leveraging our sourcing capabilities and the timing of implementation and completion of the cost reduction program, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and assumptions of management based on information available to us at the time such statements are made. These statements, which are generally identifiable by the use of the words "will," "believe," "expect," "intend," "anticipate," "estimate," "forecast," "project," "plan," and similar expressions, are subject to certain risks and uncertainties, are made as of the date hereof, and we undertake no duty or obligation to update them. Forward-looking statements are subject to the occurrence of many events outside the Company's control and actual results and the timing of events may differ materially from those suggested or implied by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Media contact: Michael Eslinger (meslinger@dalrada.com)
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SOURCE: Dalrada Financial Corp.
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