SCWorx dismisses auditor BF Borgers after SEC bars them; extends promissory note maturity by one week

SCWorx Corp.

On May 7, 2024, board terminated BF Borgers as auditor after SEC barred them from practicing on May 3, 2024.
BF Borgers had audited SCWorx since 2021; no disagreements but material weaknesses in internal controls noted.
Company expects delay in filing March 31, 2024 quarterly report while searching for new auditor.
Amended and restated $330,000 promissory note (with $30k OID) to extend maturity from May 10 to May 17, 2024.
Note bears 5% interest, secured by all assets; original cash received was $300,000.

item 1.01 item 4.01

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

SCWorx Corp. dismissed BF Borgers CPA PC as its auditor.

Action: dismissal
Auditor: BF Borgers CPA PC

Exact text from the filing

On May 7, 2024, the board of directors of the SCWorx Corp. (the “Registrant” or “Company”) terminated BF Borgers as the Registrant’s independent registered public accounting firm.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SCWorx Corp. amended Note with holder of the Note (effective 2024-05-10).

Action: amendment
Agreement: credit facility
Counterparty: holder of the Note
Effective: 2024-05-10

Exact text from the filing

On May 10, 2024, the Registrant and the holder of the Note amended and restated the Note to extend the maturity date until May 17, 2024.

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47 auditor changes filed in the last 30 days. Browse all auditor changes →

SCWorx Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-042522

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