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Cartica Acquisition Corp (NASDAQ:CITE), a blank check company, announced today that it has engaged CBIZ (NYSE:CBZ) CPAs P.C. as its new independent registered public accounting firm, effective immediately. The change comes after the company’s previous accounting firm, Marcum LLP, resigned on Monday.
The company, which is focused on real estate and construction, stated that Marcum’s reports on its financial statements for the fiscal years ended December 31, 2024, and 2023, did not contain any adverse opinions or disclaimers. However, the report for the fiscal year ending December 31, 2024, included a paragraph expressing substantial doubt about Cartica Acquisition Corp’s ability to continue as a going concern.
According to the press release, there were no disagreements between Cartica Acquisition Corp and Marcum on accounting principles, financial statement disclosure, or auditing scope or procedures during the fiscal years in question or up to the date of resignation. Additionally, there were no reportable events as defined by SEC regulations.
Prior to appointing CBIZ CPAs, Cartica Acquisition Corp had not consulted with the firm regarding the application of accounting principles or auditing matters. The company also confirmed that it had provided Marcum with a copy of the current report before filing with the SEC and requested a letter from Marcum stating whether it agrees with the statements made in the report. Marcum’s letter to the SEC, dated Monday, is filed as Exhibit 16.1 with this current report.
The transition to CBIZ CPAs comes as Cartica Acquisition Corp continues to prepare for its future financial reporting and regulatory compliance. The company’s securities, including units (NASDAQ:CITEU) and redeemable warrants (NASDAQ:CITEW), are listed on The Nasdaq Stock Market LLC.
This corporate update is based on a press release statement and reflects the latest developments in Cartica Acquisition Corp’s financial management.
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