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VANCOUVER - Destiny Media Technologies Inc. (TSXV: DSY) (OTCQB: DSNY), a micro-cap technology company with a market capitalization of $5.19 million known for its Play MPE® cloud-based SaaS platform for digital asset management in the music industry, disclosed a change in its auditing firm. According to InvestingPro data, the company maintains impressive gross profit margins of 86.36% and generated revenues of $4.53 million in the last twelve months. The company’s board of directors approved the resignation of Smythe LLP, the Former Auditor, on Monday and appointed Davidson & Company LLP as the Successor Auditor until the next annual general meeting of shareholders.
According to Destiny Media, there were no reservations or reported issues in the Former Auditor’s reports for any of the financial periods during their tenure. Furthermore, the company stated that there have been no "reportable events" as defined in National Instrument 51-102 - Continuous Disclosure Obligations, between it and the Former Auditor.
The required documentation regarding the auditor change has been filed and is available on the company’s profile at www.sedarplus.ca. This transition in financial oversight comes without any disclosed disagreements or complications, suggesting a smooth changeover.
Destiny Media Technologies offers SaaS solutions to the music industry, aiming to address challenges in distribution and promotion. Play MPE®, the company’s flagship service, is touted as a leading music promotional delivery service, providing tools and services designed to support artists and industry professionals in the digital era.
The announcement is based on a press release statement and no additional details about the reasons for the auditor change or its potential impact on Destiny Media’s operations have been provided. The company has not expressed any future projections or expectations in relation to the appointment of Davidson & Company LLP as its new auditor.
In other recent news, Destiny Media Technologies has announced the appointment of Assel Mendesh as its new Chief Financial Officer. Mendesh brings over 15 years of leadership experience, having previously worked at Corza Medical Inc., where she played a key role in integrating acquired entities and enhancing financial reporting. Her responsibilities at Destiny Media will include overseeing financial strategies, budgeting, and financial reporting. This move is part of Destiny Media’s efforts to expand its market presence and service offerings. Fred Vandenberg, President and CEO, expressed his enthusiasm for Mendesh’s expertise and forward-thinking approach, which aligns with the company’s goals for innovation and success. Mendesh has also voiced her eagerness to contribute to the company’s growth and deliver value to stakeholders. This strategic appointment reflects Destiny Media’s commitment to evolving its services within the competitive music industry landscape.
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