On May 6, 2025, Onar Holding Corp, a Nevada-based company in the construction special trade contractors industry, announced significant changes to its financial oversight. The company’s board of directors has dismissed its previous independent registered public accounting firm, WWC, P.C., and appointed Sadler, Gibb & Associates, LLC as the new auditor.
The dismissal of WWC, P.C. was effective immediately, according to the company’s filing with the Securities and Exchange Commission (SEC). WWC’s reports on Onar Holding’s financial statements for the year ended December 31, 2024, did not contain any adverse opinion or disclaimer of opinion. However, they included an explanatory paragraph expressing substantial doubt about the company’s ability to continue as a going concern.
Throughout the fiscal year 2024 and the subsequent interim period ending May 6, 2025, Onar Holding reported no disagreements with WWC on matters of accounting principles, practices, financial statement disclosure, or auditing scope that, if unresolved, would have warranted a mention in WWC’s reports. Furthermore, there were no reportable events as defined by SEC regulations.
In correspondence with regulatory requirements, Onar Holding has provided WWC with the disclosures mentioned in this report and requested that WWC furnish a letter to the SEC stating whether it agrees with the statements made by the company. This letter from WWC is included as Exhibit 16.1 in the current SEC filing.
The appointment of Sadler Gibb & Associates, LLC as the new auditor is for the fiscal year ending December 31, 2025. Onar Holding confirmed that it had not consulted with Sadler Gibb on any accounting principles or audit opinions prior to their appointment.
This change in the company’s certifying accountant is disclosed in accordance with SEC regulations and is detailed in Onar Holding’s 8-K filing. The company’s common stock is registered on the OTCQB market under the trading symbol ONAR.
The information in this article is based on Onar Holding Corp’s recent SEC filing.
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