First Capital Real Estate Trust Inc: auditor change — First Capital Real Estate Trust loses only asset; board votes to wind up company

First Capital Real Estate Trust Inc

Arbor-Myrtle Beach PE LLC enforced preferred equity rights, taking control of medical office building in SC; company received no consideration.
Company is functionally insolvent with no liquidity; financial statements rebuilt from minimal records after former CEO left.
Board voted to wind up the company, satisfy creditors, and then distribute any remaining assets to shareholders.
Former CEO Suneet Singal departed in 2019, was indicted by SEC, later settled, fined and banned from management in SEC-regulated entities.
Company was delisted by SEC in Dec 2019; certifying accountant resigned in 2021 due to non-payment.

item 2.01 item 2.06 item 3.01 item 4.01 item 5.02 item 8.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Mr. Forelle

interim consulting CEO

First Capital Real Estate Trust Inc

Effective: 2020-07-01
Filed: February 23, 2024, 6:59 PM ET

In July 2020, Mr. Forelle was appointed interim consulting CEO reporting to the board.

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

Company’s certifying accountant resigned as auditor of First Capital Real Estate Trust Inc.

Action: resignation
Auditor: Company’s certifying accountant

Exact text from the filing

The Company’s certifying accountant resigned from its position in 2021 as the Company’s inability to satisfy its accounts payable obligations.

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Executive change SEC 8-K Item 5.02 confidence 0.9

Mr. Forelle was appointed as interim consulting CEO at First Capital Real Estate Trust Inc.

Action: appointed
Role: interim consulting CEO

Exact text from the filing

In July 2020, Mr. Forelle was appointed interim consulting CEO reporting to the board.

View on SEC.gov

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

Source: SEC EDGAR

accession 0001731122-24-000299

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