AirNet Technology Inc. Announces Auditor Transition to Assentsure PAC

Introduction


AirNet Technology Inc., which was previously known as AirMedia Group Inc., has made a significant move by appointing Assentsure PAC as its new independent registered public accounting firm. This strategic decision, which takes effect on January 2, 2025, comes after a thorough evaluation process conducted by the company's Board of Directors and its audit committee.

The Auditor Transition


The recent announcement marks the replacement of Audit Alliance LLP by Assentsure PAC. It's noteworthy that throughout the years ending on December 31, 2022, and 2023, as well as during the period leading up to this transition, AirNet and Audit Alliance did not experience any disagreements regarding accounting principles or practices, nor were there reportable events, according to the guidelines established by the U.S. Securities and Exchange Commission (SEC).

In their announcement, AirNet's leadership emphasized that the change is aimed at strengthening the company's financial oversight and enhancing its accounting practices. They have reaffirmed their commitment to maintaining high standards of financial integrity.

Assentsure PAC's Role


Assentsure PAC, now in charge of auditing AirNet's financial statements, is expected to contribute a fresh perspective to the company's accounting processes. The firm was chosen based on a variety of factors, including expertise, reputation in the field, and adherence to regulatory requirements. AirNet believes that Assentsure's experience will provide valuable insights and guidance moving forward.

Collaboration for a Smooth Transition


To facilitate a seamless transition, AirNet is collaborating closely with both Assentsure and the outgoing firm, Audit Alliance. This partnership is crucial to ensuring that all financial records and auditing procedures align smoothly as the new firm steps in. The company's management has indicated their confidence in both auditing firms to make this transition as efficient as possible.

Forward-Looking Statements


In accordance with the U.S. Private Securities Litigation Reform Act of 1995, AirNet has shared some forward-looking statements regarding their plans and expectations for the future. These statements include commitments to uphold transparency in financial reporting and a proactive approach to managing any inherent risks.

The company acknowledges that forward-looking statements are subject to various uncertainties that could lead to results differing from their current expectations. Investors and stakeholders are advised to remain informed through AirNet's filings with the SEC and subsequent updates.

Conclusion


As AirNet Technology Inc. embarks on this new chapter with Assentsure PAC, the company reinforces its commitment to sound financial practices and corporate governance. By choosing a well-regarded firm to oversee its audits, AirNet is positioned to enhance stakeholder trust and pave the way for future growth and success. With the Board's careful decision-making process and the ongoing collaboration between the firms, stakeholders can look forward to a period of stability and enhanced financial oversight.

This transition highlights AirNet's focus on ensuring accurate and reliable financial reporting, a cornerstone of their business strategy that aims to bolster investor confidence and make informed decisions moving ahead.

Topics Financial Services & Investing)

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