GEX Management, Inc. (OTC Pink: GXXM), a Texas-based management consulting services firm, reported a change in its certifying accountant. The company disclosed on Wednesday that its previous independent registered public accounting firm, Fruci & Associates II PLLC, resigned on September 6, 2024. Notably, Fruci did not complete any audits nor issued any opinions on GEX Management’s financial statements for the fiscal years ended December 31, 2023, and 2022.
The company clarified that there were no disagreements or reportable events between GEX Management and Fruci during the fiscal years in question or in the subsequent interim period leading up to the resignation. These terms refer to any significant divergence in views on financial reporting or auditing matters that, if unresolved, would have been mentioned in the auditor's reports.
In line with the change, the company’s Board of Directors appointed Astra Audit & Advisory LLC as the new independent registered public accounting firm on September 12, 2024.
Prior to this engagement, GEX Management had not consulted Astra on any accounting principles or transactions that could impact the audit opinion on its financial statements, nor were there any disagreements or reportable events with the new firm.
GEX Management has provided Fruci with the disclosures made in the current report and has included a letter from Fruci dated September 16, 2024, as an exhibit to the filing, in which Fruci is expected to state whether it agrees with the company's account of events.
This change of auditor comes as part of the company's regulatory filings with the Securities and Exchange Commission and is based on a press release statement. The company remains compliant with its reporting obligations and ensures continuity in its financial auditing process.
In other recent news, Dallas-based GEX Management, Inc. announced the immediate resignation of Joseph Frontiere from its Board of Directors. This development, disclosed in the company's latest filing with the Securities and Exchange Commission (SEC), marks a significant change in the firm's leadership. No further details have been provided regarding the reason for the resignation or information about a potential successor.
GEX Management has not yet made any announcements concerning the appointment of a new director or any adjustments to its compensatory arrangements for officers following this departure. It's important to note that these are recent developments within the company.
As a reminder, GEX Management, also known as 07 Trade & Services, is classified under the Standard Industrial Classification (SIC) code 8742, indicating its operation within the management consulting industry.
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