other material
confidence high
sentiment negative
materiality 0.65
Flag Ship Acquisition dismisses Marcum Asia; engages MaloneBailey as new auditor
Flag Ship Acquisition Corp
- Audit committee dismissed Marcum Asia and engaged MaloneBailey effective July 16, 2024.
- No accounting disagreements, but Marcum Asia flagged going concern doubt and a 2022 financial restatement due to material weaknesses.
- Material weaknesses included failure to record costs as expenses and improper deferral of offering costs; restated 2022 financials.
- Company provided Marcum Asia a copy of this 8-K; auditor's letter furnished as Exhibit 16.1.