secwatch.observer — SEC 8-K summary
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Issuer:     YUNHONG GREEN CTI LTD. (YHGJ)
CIK:        0001042187
Form:       8-K
Filed at:   2022-11-14T23:59:59+00:00
Accession:  0001493152-22-031545
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Yunhong CTI dismisses auditor LJSA over ERTC income recognition disagreement
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- Audit Committee terminated LJSA on Nov 8, 2022; disagreement over recognition of Employee Retention Tax Credit (ERTC) income.
- LJSA asserted ERTC should have been income in 2021; company believed uncertainty unresolved until returns processed.
- Prior auditor's reports for FY2020 and FY2021 contained going-concern qualification but no adverse opinion.
- Material weakness in internal control over financial reporting due to limited staffing and over-reliance on personnel continues.
- Company intends to engage a new independent accounting firm; LJSA letter provided as Exhibit 16.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1042187/000149315222031545/0001493152-22-031545-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1042187/000149315222031545/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-031545

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