UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 4.01 Change in Registrants Certifying Accountant
(a) Previous Independent Accountant
On June 13, 2024, Esports Entertainment Group, Inc. (the “Company”) dismissed Marcum LLP as the Company’s independent registered public accounting firm, effective as of the same date. The decision to dismiss the auditor was recommended and approved by the Company’s Board of Directors and Audit Committee.
The reports of Marcum LLP for the past two fiscal years ended June 30, 2023, did not contain any adverse opinion or disclaimer of opinion and were not qualified or modified as to any uncertainty, audit scope or accounting principle except with respect to an explanatory paragraph indicating that there was substantial doubt about the Company’s ability to continue as a going concern, as disclosed in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023. During the Company’s two most recent fiscal years and any subsequent interim period up to and including the date of the Company’s dismissal of Marcum LLP, there have been no (i) disagreements with Marcum LLP 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 Marcum LLP, would have caused them to make reference thereto in their reports on the financial statements for such periods; or (ii) reportable events within the meaning of Item 304(a)(1)(v) of Regulation S-K and the related instructions thereto, except for the material weaknesses described in Item 9A of the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, and as discussed with the management of the Company and the Audit Committee. The Company has authorized Marcum to respond fully to the inquires of any successor auditor on the Company’s ability to continue as a going concern, as disclosed in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, and the material weaknesses described in Item 9A of the Company’s Annual Report on Form 10-K for the year ended June 30, 2023.
The Company provided Marcum LLP with a copy of this report on Form 8-K prior to its filing with the Securities and Exchange Commission and requested that it furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements contained herein, and if not, stating the respect with which it does not agree. A copy of Marcum LLP’s letter to the Securities and Exchange Commission is filed as Exhibit 16.1 to this Current Report on Form 8-K.
(b) New Independent Accountant
On June 20, 2024, the Company’s Board of Directors and Audit Committee appointed the firm of TAAD LLP, as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2024, effective as of the same date.
During the two most recent fiscal years and any subsequent interim period, neither the Company, nor anyone on its behalf, consulted with TAAD LLP regarding the application of accounting principles to a specific transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, nor did TAAD LLP provide advice to the Company, either written or oral, that was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue. Further, during the Company’s two most recent fiscal years and subsequent interim period, the Company has not consulted TAAD LLP on any matter that was the subject of a disagreement or a reportable event.
Item 9.01 Financial Statements and Exhibits
Exhibit Number |
Exhibit Description | |
| 16.1 | Letter from Marcum LLP regarding change in certifying accountant dated June 20, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
Forward-Looking Statements
The information contained herein includes forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “will be,” “will continue,” “will likely result,” and similar expressions. These statements relate to future events or to our strategies, targeted markets, and future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and those discussed in other documents we file with the SEC including, the timing of deregistration of our securities, our obligations under our secured debt, outstanding preferred stock, as amended, the settlement agreement with the holder of our Series C Preferred Stock and Series D Preferred Stock, and our ability to continue as a going concern. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future, unless required by law. The safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of such Act.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 20, 2024 | ||
| ESPORTS ENTERTAINMENT GROUP, INC. | ||
| By: | /s/ Alex Igelman | |
| Name: | Alex Igelman | |
| Title: | Chief Executive Officer | |
Exhibit 16.1
June 20, 2024
Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549
Commissioners:
We have read the statements made by Esports Entertainment Group, Inc. under Item 4.01 of its Form 8-K dated June 13, 2024. 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 Esports Entertainment Group, Inc. contained therein.
| Very truly yours, | |
| /s/ Marcum llp | |
| Marcum llp |