8-K
filed November 14, 2023, 6:59 PM ET
CIK 0001957783
earnings
confidence high
sentiment neutral
materiality 0.70
MachTen, Inc.: auditor change — MachTen Q3 net income $1.09M flat YoY; non-regulated revenue up 12%; E-ACAM support to $9.7M from 2024
MachTen, Inc.
2023-Q3 EPS reported
$0.98
revenue$11,987,000
- Q3 net income $1.09M vs $1.08M prior year; total revenue $4.13M (regulated $3.08M, non-regulated $1.05M).
- Fiber subscribers increased to 900 from 753 in Q2; fiber passings ~4,200 in competitive markets.
- E-ACAM program begins Jan 2024; annual support rises to $9.7M through 2038 from current $8.7M ACAM expiring 2028.
- CFO Stephen Moore resigned; Bridget Betcher appointed CAO effective Nov 14, 2023.
- Auditor changed from BDO to FORVIS; prior material weakness in internal controls continues.
Key facts
Extracted from this filing and checked against the source text.
Auditor Changes
SEC 8-K Item 4.01/4.02
confidence 0.9
MachTen, Inc. engaged FORVIS, LLP as its auditor.
- Action
- engagement
- Auditor
- FORVIS, LLP
Exact text from the filing
the Committee appointed FORVIS as the Company’s new independent registered public accounting firm effective as of November 13, 2023
View on SEC.gov
Auditor Changes
SEC 8-K Item 4.01/4.02
confidence 0.9
MachTen, Inc. dismissed BDO USA, P.C. as its auditor.
- Action
- dismissal
- Auditor
- BDO USA, P.C.
Exact text from the filing
On November 8, 2023, the Board of Directors of MachTen, Inc. (the “Company”) dismissed BDO USA, P.C. (“BDO”) as the Company’s independent registered public accounting firm, effective Tuesday November 14, 2023
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Bridget Betcher was appointed as Chief Accounting Officer at MachTen, Inc..
- Action
- appointed
- Role
- Chief Accounting Officer
Exact text from the filing
appointed Bridget Betcher to the role of Chief Accounting Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Stephen J. Moore resigned as Interim Chief Financial Officer at MachTen, Inc..
- Action
- resigned
- Role
- Interim Chief Financial Officer
Exact text from the filing
accepted the resignation of Stephen J. Moore as the Company’s Interim Chief Financial Officer.
View on SEC.gov
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