Zedge auditor Mayer Hoffman McCann declines reappointment for FY2022; company seeking replacement

Zedge, Inc.

Auditor Mayer Hoffman McCann (MHM) declined reappointment for fiscal year ending July 31, 2022; will complete Q1 2022 review.
No disagreements between Zedge and MHM on accounting principles, financial disclosure, or audit scope during past two fiscal years.
A material weakness in internal controls related to deferred tax asset valuation allowance was previously identified in FY2021 10-K; company remediating.
Company actively engaged with several firms to find a successor; expects timely replacement.
MHM's reports on FY2021 and FY2020 financial statements were unqualified (no adverse opinion or disclaimer).

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