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SharpLink Gaming, Inc. (NASDAQ:SBET) announced the dismissal of Cherry Bekaert (EBR:BEKB) LLP as its independent registered public accounting firm, effective Monday. The decision was approved by the company’s Audit Committee.
According to a statement in the SEC filing, Cherry Bekaert’s audit reports for the fiscal years ending December 31, 2024 and 2023 did not include any adverse opinions or disclaimers, nor were they qualified or modified regarding uncertainty, audit scope, or accounting principles. However, the audit reports did contain an explanatory paragraph stating there was substantial doubt about SharpLink Gaming’s ability to continue as a going concern.
The company reported that, for the fiscal years ended December 31, 2024 and 2023 and through the date of the filing, there were no disagreements with Cherry Bekaert on accounting principles, financial statement disclosures, or audit procedures. Additionally, there were no reportable events as defined by SEC regulations during these periods.
SharpLink Gaming stated that Cherry Bekaert was provided a copy of the SEC filing and was requested to furnish a letter to the SEC indicating agreement with the company’s disclosures. This letter, dated Tuesday, was included as an exhibit to the filing.
On Monday, the Audit Committee approved the appointment of KPMG LLP as SharpLink Gaming’s new independent registered public accounting firm for the fiscal year ending December 31, 2025. The company confirmed that during the two most recent fiscal years and the period through the appointment, neither SharpLink Gaming nor anyone on its behalf consulted KPMG on any matters related to accounting principles, audit opinions, or any subject of disagreement or reportable events.
This article is based on a statement from SharpLink Gaming’s SEC filing.
In other recent news, SharpLink Gaming has significantly increased its Ethereum holdings, now totaling 205,634 ETH after acquiring an additional 7,689 tokens. The company purchased these tokens at a weighted average price of $2,501 per ETH, bolstering its position as a major publicly traded holder of Ethereum. To support this acquisition, SharpLink raised approximately $64 million through its At-The-Market facility, selling nearly 5.5 million shares of common stock. Of these funds, $37.2 million has yet to be allocated to further ETH purchases. The company has committed all its ETH holdings to staking and restaking protocols, earning approximately 322 ETH in rewards since the program’s initiation. SharpLink has introduced a new metric, "ETH Concentration," which has increased by 19% since mid-June. Additionally, options trading for SharpLink’s common stock has commenced on the Nasdaq Options Market, which the company expects will enhance liquidity and investor access. Chairman Joseph Lubin emphasizes the company’s disciplined execution of its ETH-centric treasury strategy.
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