BM Technologies Inc. filed SEC Form 8-K: Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits
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Item 4.01 Changes in Registrant’s Certifying Accountant
On May 3, 2024, BM Technologies, Inc. (the “Company”) initiated a Request for Proposal (“RFP”) related to the selection of the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024. On May 28, 2024, KPMG LLP (“KPMG”), the Company’s current independent registered public accounting firm, notified the Company of KPMG’s decision to decline participating in the RFP process and to resign as the Company’s independent registered public accounting firm upon the earlier of completion of its review of the Company’s interim financial statements for the second quarter of 2024 or the Company’s engagement of a new independent registered public accounting firm. The Company’s Board of Directors and Audit Committee did not recommend or approve such decision. The Company is in the process of selecting a new independent registered public accounting firm.
The audit reports of KPMG relating to the Company’s consolidated financial statements as of and for the years ended December 31, 2023 and 2022 did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles.
During the years ended December 31, 2023 and 2022 and the subsequent interim period through the date of this Current Report on Form 8-K, there were no (i) disagreements, within the meaning of Item 304(a)(1)(iv) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended (“Regulation S-K”), and the related instructions thereto, with KPMG on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of KPMG, would have caused KPMG to make reference to the subject matter of the disagreements in connection with its reports; or (ii) reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K and the related instructions thereto, except that as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, the Company reported that its internal control over financial reporting was not effective as of December 31, 2023 due to a material weakness in its internal control over financial reporting. The material weakness did not result in any material misstatements in the Company’s consolidated financial statements as of and for the years ended December 31, 2023 and 2022 or any quarterly periods within the years then ended.
The Company has provided KPMG with a copy of the disclosures made by the Company in response to this Item 4.10 and requested that KPMG furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements made in this Item and, if not, stating the respects in which it does not agree. A letter from KPMG is attached hereto as Exhibit 16.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 16.1 | Letter to SEC from KPMG LLP, dated June 3, 2024 | |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| BM TECHNOLOGIES, INC. | |||
| Dated: June 3, 2024 | By: | /s/ Luvleen Sidhu | |
| Name: | Luvleen Sidhu | ||
| Title: | Chief Executive Officer | ||