other material
confidence high
sentiment negative
materiality 0.80
Heritage Distilling replaces auditor Marcum with CBIZ CPAs; cites prior material weaknesses
IP STRATEGY HOLDINGS, INC.
- Terminated Marcum LLP as independent accountant on April 30, 2025 and engaged CBIZ CPAs P.C. for fiscal 2025.
- Marcum's 2023 audit report included a going-concern explanatory paragraph about Heritage's ability to continue.
- Company disclosed multiple material weaknesses in internal control over financial reporting for year ended Dec 31, 2024.
- No disagreements occurred between Heritage and Marcum on accounting or auditing matters during 2023-2025.
- Marcum provided a letter to the SEC agreeing with the statements in this Form 8-K, filed as Exhibit 16.1.