other material
confidence high
sentiment negative
materiality 0.85
Summit Networks' former auditor Prager Metis disputes 8-K, says June 30 10-Q is misleading
Summit Networks Inc.
- Prager Metis CPAs (former auditor) disagrees with Item 4.01 of Form 8-K, stating the June 30, 2021 10-Q was not reviewed by them.
- The 10-Q filed August 11, 2021 should not be relied upon; SEC and public were misled to believe Prager Metis had reviewed it.
- 8-K incorrectly states fiscal year-end as July 31; actual year-end is September 30.
- Prager Metis requests the company amend the June 30 10-Q to disclose the lack of review.