JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Movano Inc. (NASDAQ:MOVE) announced that its audit committee has approved the engagement of RBSM LLP as the company’s new independent registered public accounting firm for the fiscal year ending December 31, 2025, as well as for interim periods. The decision was made on Wednesday.
According to the company’s statement in a filing with the Securities and Exchange Commission, Movano did not consult with RBSM LLP regarding the application of accounting principles to any specific transaction or regarding the type of audit opinion that might be rendered on its financial statements for the fiscal years ended December 31, 2024 and 2023, or during subsequent interim periods before RBSM’s engagement. The company also reported that there were no disagreements or reportable events with RBSM LLP as defined under applicable SEC regulations.
Movano Inc. is incorporated in Delaware and is listed on the Nasdaq Stock Market under the symbol MOVE. According to InvestingPro, which offers comprehensive analysis of over 1,400 US stocks, the company currently appears undervalued based on its Fair Value analysis. The information is based on a press release statement filed with the SEC.
In other recent news, Movano Health has encountered a compliance issue with the Nasdaq Stock Market due to a delay in submitting its quarterly financial report, Form 10-Q, for the period ending March 31, 2025. The company has been given until July 21, 2025, to present a plan to regain compliance, with the possibility of an extension to November 11, 2025, if the plan is accepted. In addition to this, Movano Health has announced that its Board of Directors is exploring strategic alternatives to enhance shareholder value, which may include a sale, merger, or other transactions. Aquilo Partners and K&L Gates LLP have been engaged as financial and legal advisors, respectively, to guide this process. However, the company has cautioned that there is no guarantee of a transaction or strategic change resulting from this exploration. Movano Health has also reported financial constraints, which have contributed to the delay in filing the quarterly report. Preliminary estimates show that as of March 31, the company had approximately $4.3 million in cash and cash equivalents, $2.5 million in accounts payable, and $7.8 million in total assets. The company has stated it will not provide further updates until a specific action is approved by the Board of Directors or further disclosure is deemed necessary.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.