Finnovate Acquisition Corp.: auditor change — Finnovate Acquisition Corp dismisses Marcum, hires HTL as new auditor; going concern note in prior audits

Finnovate Acquisition Corp.

Audit Committee dismissed Marcum LLP and hired HTL International, LLC as independent auditor for FY2024, effective March 24, 2025.
No disagreements with Marcum on accounting principles or audit scope during the two most recent fiscal years.
Prior Marcum audit reports contained an explanatory paragraph regarding the company's ability to continue as a going concern.
Material weaknesses in internal control over financial reporting were identified in prior filings (complex financial instruments, professional fees, prepaid expenses, related party payables/notes).
HTL was not consulted on any accounting matters before appointment; Marcum's letter is attached as Exhibit 16.1.

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 0.99

Finnovate Acquisition Corp. engaged HTL International, LLC as its auditor.

Action: engagement
Auditor: HTL International, LLC

Exact text from the filing

On March 24, 2025, the Audit Committee engaged HTL International, LLC (“HTL”) as the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2024, effective immediately.

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.99

Finnovate Acquisition Corp. dismissed Marcum LLP as its auditor.

Action: dismissal
Auditor: Marcum LLP

Exact text from the filing

On March 24, 2025 (the “Dismissal Date”), the Audit Committee of the Board of Directors (the “Audit Committee”) of Finnovate Acquisition Corp (the “Company”) dismissed Marcum LLP (“Marcum”) and engaged HTL International, LLC (“HTL”) to serve as the independent registered public accounting firm of the Company for the fiscal year ended December 31, 2024, effective immediately.

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Source: SEC EDGAR

accession 0001641172-25-000773

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