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MESA, AZ – Iveda Solutions, Inc. (NASDAQ:IVDA), a Nevada-based company specializing in prepackaged software services, announced the dismissal of its previous independent registered public accounting firm, Kreit & Chiu CPA LLP, and the appointment of Weinberg & Company, P.A. as its new auditor. The change was effective as of Monday, February 21, 2025.
The company stated that there were no disagreements with Kreit on any accounting principles or practices, financial statement disclosures, or auditing scope or procedure that would have necessitated a mention in their reports. Furthermore, Iveda Solutions confirmed that no reportable events, as defined under SEC regulations, occurred during the interim periods of 2024 reviewed by Kreit. With the company’s next earnings report scheduled for March 14, 2025, investors following the stock can access comprehensive financial analysis through InvestingPro, which currently identifies 14 additional key investment insights for IVDA.
Prior to the filing of this report with the SEC, Iveda Solutions provided Kreit with the disclosures it is making in this announcement. Kreit has submitted a letter to the SEC, dated February 24, 2025, agreeing with the statements made by Iveda Solutions.
The decision to switch auditors was made following a review and recommendation from the company’s committee. Weinberg & Company, P.A. will now audit the financial statements for the years ending December 31, 2024, and 2023. Iveda Solutions has not consulted with Weinberg on any accounting principles or transactions that would have influenced their financial statements or the type of audit opinion that might be rendered, nor were there any disagreements or events requiring consultation.
This corporate update is based on a press release statement and reflects the company’s ongoing compliance with SEC regulations. The appointment of Weinberg & Company, P.A. marks a new chapter in Iveda Solutions’ financial reporting process.
In other recent news, Iveda Solutions held its Annual Meeting of Stockholders, where the re-election of board members was confirmed. Joseph Farnsworth, Alejandro Franco, Robert D. Gillen, and David Ly were re-elected as directors for a one-year term. The stockholders also ratified the appointment of Kreit & Chiu CPA LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024. However, several significant proposals did not receive enough votes to pass. These included the redomicile of the company from Nevada to Delaware, an amendment to increase the number of authorized shares of capital stock, and the issuance of 625,000 Series A and B Common Stock Purchase Warrants. Due to the lack of sufficient votes, the meeting has been adjourned to March 4, 2025, to allow further voting on these key proposals. The adjourned meeting will take place at the company’s offices in Mesa, Arizona. This decision provides additional time for stockholders to consider and vote on the proposals detailed in the company’s Proxy Statement filed with the SEC.
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