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Alset Inc. (NASDAQ:AEI) announced Wednesday that its Board of Directors has dismissed Grassi & Co., CPAs, P.C. as the company’s independent registered public accounting firm, effective the same day. The decision was made following a recommendation from the Audit Committee.
According to a press release statement, Grassi & Co.’s audit reports on Alset’s financial statements for the years ended December 31, 2024 and 2023 did not contain any adverse opinions or disclaimers of opinion, and were not qualified or modified regarding uncertainty, audit scope, or accounting principles. The company stated that there were no disagreements with Grassi & Co. on accounting principles, financial statement disclosure, or auditing procedures during the most recent fiscal year or the interim period prior to dismissal. Additionally, no reportable events, as defined under Item 304(a)(1)(v) of Regulation S-K, were identified.
Alset has requested Grassi & Co. to provide a letter addressed to the U.S. Securities and Exchange Commission indicating whether it agrees with the company’s statements. This letter has been filed as an exhibit to the current report.
Also on Wednesday, Alset’s Board of Directors approved, upon Audit Committee recommendation, the engagement of HTL International, LLC as its new independent registered public accounting firm for the fiscal year ending December 31, 2025. The company reported that during the last two fiscal years and through the engagement date, it had not consulted with HTL International on the application of accounting principles, the type of audit opinion that might be rendered, or any matters that could have resulted in a disagreement or reportable event.
Alset Inc. is incorporated in Texas and is listed on the Nasdaq Stock Market under the ticker symbol AEI. All information is based on a statement from the company’s SEC filing.
In other recent news, Alset Inc. announced a $1 million stock repurchase program authorized by its Board of Directors. This program is set to run through December 31, 2025, or until the full amount is utilized, and aims to enhance shareholder value by buying back shares on the open market. Additionally, Alset has entered into an agreement to acquire New Energy Asia Pacific Inc. for $83 million, payable via a convertible promissory note. This acquisition, approved by the Board and Audit Committee, focuses on sustainable solutions, particularly in electric vehicles and related technologies.
Moreover, Top Financial Group Ltd, a Hong Kong-based firm, has disclosed details of its upcoming annual meeting in a report filed with the U.S. Securities and Exchange Commission. The filing provides necessary information for shareholders to engage in the company’s governance. These developments reflect ongoing strategic moves by both companies in their respective industries.
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