Resonant Appoints KPMG as Independent Auditor
Resonant Inc. (NASDAQ: RESN) appointed KPMG, LLP as its new independent auditor, following approval from its Audit Committee. KPMG replaces Crowe LLP, with no disagreements reported on accounting matters. Chairman and CEO George B. Holmes emphasized the company's commitment to transparency in financial reporting and expressed gratitude towards Crowe for their service. This leadership change reflects Resonant's ongoing efforts to enhance corporate governance and strengthen investor confidence.
- Appointment of KPMG as independent auditor enhances transparency in financial reporting.
- Transition reflects commitment to corporate governance and investor confidence.
- None.
GOLETA, Calif., Aug. 25, 2020 (GLOBE NEWSWIRE) -- Resonant Inc. (NASDAQ: RESN), a leader in transforming the way radio frequency, or RF, front-ends are being designed and delivered for mobile handset and wireless devices, today announced it has appointed KPMG, LLP as its independent auditor, after receiving the approval from the Audit Committee of the Company's Board of Directors.
KPMG will replace Crowe LLP, and will immediately commence its work for Resonant upon the execution of an engagement letter. There were no disagreements between the Company and Crowe LLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
“We are committed to providing our shareholders with the highest level of transparency in our financial reporting standards and corporate governance and to that end, we have appointed KPMG as the Company’s auditor effective immediately,” said George B. Holmes, Chairman and Chief Executive Officer of Resonant. “I would like to thank the entire team at Crowe for their excellent service over the years – we wish them well in future endeavors.
“I look forward to a professional relationship with the KPMG team going forward,” concluded Holmes.
About Resonant Inc.
Resonant (NASDAQ: RESN) is transforming the market for RF front-ends (RFFE) by disrupting the RFFE supply chain through the delivery of solutions that leverage our Infinite Synthesized Network (ISN) software tools platform, capitalize on the breadth of our IP portfolio, and are delivered through our services offerings. In a market that is critically constrained by limited designers, tools and capacity, Resonant addresses these critical problems by providing customers with ever increasing design efficiency, reduced time to market and lower unit costs. Customers leverage Resonant’s disruptive capabilities to design cutting edge filters and modules, while capitalizing on the added stability of a diverse supply chain through Resonant’s fabless ecosystem-the first of its kind. Working with Resonant, customers enhance the connectivity of current mobile devices, while preparing for the demands of emerging 5G applications.
To learn more about Resonant, view the series of videos published on its website that explain Resonant's technologies and market positioning:
- Resonant Corporate Video
- ISN and XBAR: Speeding the Transition to 5G
- Infinite Synthesized Networks, ISN Explained
- What is an RF Filter?
- RF Filter Innovation
- Transforming the Mobile Filter Supply Chain
For more information, please visit www.resonant.com.
Resonant uses its website (https://www.resonant.com) and LinkedIn page (https://www.linkedin.com/company/resonant-inc-/) as channels of distribution of information about its products, its planned financial and other announcements, its attendance at upcoming investor and industry conferences, and other matters. Such information may be deemed material information, and Resonant may use these channels to comply with its disclosure obligations under Regulation FD. Therefore, investors should monitor the company’s website and its social media accounts in addition to following the company’s press releases, SEC filings, public conference calls, and webcasts.
About Resonant’s ISN® Technology
Resonant can create designs for difficult bands, modules and other complex RF Front End requirements that we believe have the potential to be manufactured for half the cost and developed in half the time of traditional approaches. ISN is a suite of proprietary mathematical methods, software design tools and network synthesis techniques that enable us to explore a much larger set of possible design solutions that regularly incorporate our proprietary technology. We then quickly deliver design simulations to our customers, which they manufacture or have manufactured by one of our foundry partners. These improved solutions still use Surface Acoustic Wave (SAW) or Temperature Compensated Surface Acoustic Wave (TC-SAW) manufacturing methods and perform as well as those using higher cost manufacturing methods such as Bulk Acoustic Wave (BAW). Resonant's method delivers excellent predictability, enabling achievement of the desired product performance in roughly half as many turns through the fab. In addition, because Resonant's models are fundamental, integration with its foundry and fab customers is seamless because its models speak the "fab language" of basic material properties and dimensions.
Investor Relations Contact:
Greg Falesnik or Luke Zimmerman
MZ Group - MZ North America
(949) 259-4987
RESN@mzgroup.us
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