ScanTech AI Systems appoints Berkowitz Pollack Brant as new auditor

ScanTech AI Systems Inc. (NASDAQ:STAI), a micro-cap technology company with a market capitalization of $28 million and trailing twelve-month revenue of $1.25 million, announced the appointment of Berkowitz Pollack Brant Advisors + CPAs as its new independent registered public accounting firm. The decision was approved by the company’s Audit Committee and is effective for the fiscal year ending December 31, 2025, as well as certain interim periods. According to InvestingPro analysis, the company currently maintains a weak financial health score, with significant debt obligations and rapid cash burn.

According to a statement issued in a press release and disclosed in a filing with the U.S. Securities and Exchange Commission, the company and its representatives did not consult with Berkowitz Pollack Brant Advisors + CPAs during fiscal years 2023 and 2024, or in the interim periods through the date of appointment, regarding the application of accounting principles or the type of audit opinion that might be rendered on the company’s financial statements. The filing also states there were no written or oral advice provided by the new firm that was considered an important factor by the company in making accounting, auditing, or financial reporting decisions.

Additionally, the company reported that there were no disagreements or reportable events, as defined by SEC regulations, between ScanTech AI Systems and Berkowitz Pollack Brant Advisors + CPAs during the relevant periods.

ScanTech AI Systems Inc. is incorporated in Delaware and its common stock trades on The Nasdaq Stock Market under the ticker STAI. The information is based on a statement issued in a press release and detailed in the company’s SEC filing.

In other recent news, ScanTech AI Systems Inc. has been actively addressing several key developments. The company filed its Quarterly Report on Form 10-Q for the period ending June 30, 2025, as part of its efforts to regain compliance with Nasdaq listing requirements. This filing follows the engagement of FSR Capital for advisory services related to Nasdaq compliance and SEC reporting. In a significant move, ScanTech AI’s independent registered public accounting firm, UHY LLP, resigned due to incomplete review of the company’s financial statements before the 10-Q filing. Additionally, ScanTech AI announced a collaboration with Curie Technologies to integrate Curie’s software platform into its SENTINEL CT screening systems, aiming to enhance service delivery. The company also experienced changes in its board of directors, with Thomas McMillen resigning and Michael McGarrity appointed as the new chair of the Nominating and Corporate Governance Committee. Bradley Buswell, the current chairman, joined the Audit Committee to fill the vacancy left by McMillen. These developments highlight ScanTech AI’s ongoing efforts to navigate compliance challenges and enhance its service offerings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.