Avenir Wellness Solutions, Inc.: auditor change — Auditor RBSM resigns over revenue recognition and undisclosed related-party transactions

Avenir Wellness Solutions, Inc.

RBSM resigned effective April 12, 2023, citing disagreements over gross vs. net revenue recognition for nutraceutical products sold via Sera Labs.
RBSM identified undisclosed related-party transactions with ALT, a company controlled by the CEO, involving cash processing and vendor payments.
Prior audit reports (2020, 2021) included going-concern explanatory paragraphs; no other qualifications.
Company disagrees with RBSM's assertions, citing an independent expert's support for gross revenue recognition, and has engaged a successor accountant.

item 4.01 item 9.01

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

RBSM LLP resigned as auditor of Avenir Wellness Solutions, Inc..

Action: resignation
Auditor: RBSM LLP

Exact text from the filing

☐ Item 4.01 Changes in Registrant’s Certifying Accountant Resignation of Independent Registered Public Accounting Firm On April 12, 2023, the Board of Directors (the “Board”) of Avenir Wellness Solutions, Inc. (the “Company”), a Delaware corporation formerly known as CURE Pharmaceutical Holding Corp., received a letter from RBSM LLP (“RBSM”) that they resigned as the Company’s independent registered public accounting firm for the year ending December 31, 2022, effective immediately.

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Source: SEC EDGAR

accession 0001477932-23-002757

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