Network-1 Technologies, Inc 8-K, filed Oct 12, 2022
Network-1 Technologies, Inc. (NTIP)
About this 8-K
Network-1 Technologies, Inc filed this 8-K on October 12, 2022, reporting on events of October 11, 2022.
Items reported
- Item 4.01: Change of auditor
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 4.01 | Changes in Registrant’s Certifying Accountant. |
Network-1 Technologies Inc. (the “Company”) was notified that the audit practice of Friedman LLP (“Friedman”), the Company’s independent registered public accounting firm, was combined with Marcum LLP (“Marcum”) effective September 1, 2022. On October 11, 2022, Friedman resigned as the Company’s independent registered public accounting firm and the Company’s Audit Committee approved the engagement of Marcum to serve as the independent registered public accounting firm of the Company for the year ended December 31, 2022. The services previously provided by Friedman will now be provided by Marcum.
During the two years ended December 31, 2021 and through the subsequent interim period prior to the date of engagement of Marcum, the Company, or anyone on its behalf, did not consult Marcum regarding either: (1) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report was provided to the Company nor oral advice was provided that Marcum concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (2) any matter that was either the subject of a disagreement (as defined in Regulation S-K, Item 304(a)(1)(iv) and the related instructions) or reportable event (as defined in Regulation S-K, Item 304(a)(1)(v)).
The reports issued by Friedman on the Company’s financial statements for either of the past two years did not contain an adverse opinion or a disclaimer of opinion, or were qualified or modified as to uncertainty, audit scope or accounting principles.
During the Company’s two most recent fiscal years and any subsequent interim period preceding the date hereof, (i) there were no disagreements with Friedman on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to Friedman’s satisfaction, would have caused it to make reference to the subject matter of the disagreements in connection with its reports, and (ii) there were no reportable events, as defined in Item 304(a)(1)(v) of Regulation S-K.
The Company has requested Friedman to furnish a letter addressed to the Commission stating whether it agrees with the above statements. A copy of the letter from Friedman is filed as Exhibit 16.1 to this Form 8-K.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit Number | Description |
| 16.1* | Letter of Friedman LLP |
*Filed herewith
| -2- |
SIGNATURE
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 hereunto duly authorized.
| NETWORK-1 TECHNOLOGIES, INC. | ||
| Dated: October 12, 2022 | By: | /s/ Corey M. Horowitz |
Name: Corey M. Horowitz Title: Chairman & Chief Executive Officer |
||
-3-
Exhibit 16.1
October 12, 2022
Securities and Exchange Commission
Office of the Chief Accountant
100 F Street, NE
Washington, D.C. 20549
| Re: | Network-1 Technologies, Inc. Commission File Number 1-15288 |
Dear Sir or Madam:
We have read the statements made by Network-1 Technologies, Inc. under Item 4.01 of its Form 8-K dated October 12, 2022. We agree with the statements concerning our firm in such Form 8-K; we are not in a position to agree or disagree with other statements of Network-1 Technologies Inc. contained therein.
Very truly yours,
/s/ Friedman LLP
New York, NY