T Stamp Inc appoints new accounting firm

ATLANTA, GA - T Stamp Inc, trading as (NASDAQ:IDAI), a prepackaged software services company with a market capitalization of $4.58 million and current share price of $1.99, has announced a change in its certifying accountant, according to a recent SEC filing. The company, which has seen its stock decline 86% year-to-date, was informed on Wednesday that Marcum LLP resigned as their independent registered accounting firm.

Following Marcum’s resignation, the Audit Committee of T Stamp Inc’s Board of Directors approved the engagement of CBIZ (NYSE:CBZ) CPAs P.C. as the new independent registered public accounting firm for the fiscal year ending December 31, 2025. The transition comes after CBIZ CPAs acquired Marcum’s relevant business on November 1, 2024.

The company’s financial statements for the fiscal years ending December 31, 2024, and 2023, audited by Marcum, did not contain any adverse opinions or disclaimers. However, they included explanatory paragraphs regarding the company’s ability to continue as a going concern.

The SEC filing also noted that there were no disagreements or reportable events between T Stamp Inc and Marcum, except for material weaknesses in internal control over financial reporting. These weaknesses were related to accounting for complex equity transactions and were disclosed in the company’s Annual Report on Form 10-K filed on March 21, 2025.

In line with regulatory requirements, Marcum has provided a letter to the SEC, dated April 24, 2025, agreeing with the statements made by T Stamp Inc in the filing.

This change in the company’s accounting firm is a significant corporate governance event and is detailed in the company’s 8-K filing with the SEC. The information presented in this article is based on the statements made in that press release.

In other recent news, Trust Stamp has been selected to join the CyberBoost Catalyse program, which is a collaboration involving the Cyber Security Agency of Singapore and the National University of Singapore. This program is designed to help cybersecurity companies expand their reach globally, and Trust Stamp will participate in activities aimed at refining market strategies and forming strategic partnerships. Additionally, Trust Stamp has achieved the D-seal certification, affirming its commitment to ethical digital identity solutions and responsible data usage, which is significant in sectors like humanitarian aid and financial services. In another development, T Stamp Inc has entered an equity distribution agreement with Maxim Group LLC, allowing for the periodic sale of its common stock. This agreement includes a commission for Maxim and is part of T Stamp’s financial strategy. Furthermore, T Stamp recently regained compliance with Nasdaq’s annual meeting requirements after holding its annual stockholders’ meeting, ensuring its continued listing on the Nasdaq Capital Market. However, T Stamp faced a setback when it failed to secure a quorum at a special stockholder meeting intended to ratify the issuance of certain warrants, necessitating another meeting within 90 days.

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