GrowGeneration Corp.
07/14/2025 | Press release | Distributed by Public on 07/14/2025 15:11
Change in Certifying Accountants (Form 8-K)
Item 4.01 Changes in Registrant's Certifying Accountant.
(a) Dismissal of Independent Registered Public Accounting Firm
On July 10, 2025, GrowGeneration Corp. (the "Company") dismissed Grant Thornton LLP ("Grant Thornton") as the Company's independent registered public accounting firm. The dismissal was approved by the Audit Committee (the "Audit Committee") of the board of directors of the Company.
The reports of Grant Thornton on the Company's consolidated financial statements for the fiscal years ended December 31, 2024 and 2023 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles, except that in connection with the audit of the Company's internal control over financial reporting as of December 31, 2024 and 2023, Grant Thornton's opinion concluded that the Company did not maintain, in all material respects, effective internal control over financial reporting as of December 31, 2024 and 2023 because of the material weaknesses disclosed in the Company's annual reports on Form 10-K for the periods then ended.
During the fiscal years ended December 31, 2024 and 2023, and through July 10, 2025, there have been no "disagreements" (as defined in Item 304(a)(1)(iv) of Regulation S-K and related instructions) with Grant Thornton on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to the satisfaction of Grant Thornton would have caused Grant Thornton to make reference thereto in its reports on the consolidated financial statements for such years. During the fiscal years ended December 31, 2024 and 2023 and through July 10, 2025, there have been no "reportable events" (as defined in Item 304(a)(1)(v) of Regulation S-K), except that in connection with the audit of the Company's internal control over financial reporting as of December 31, 2024 and 2023, Grant Thornton's opinion concluded that the Company did not maintain effective internal control over financial reporting as of December 31, 2024 and 2023.
The Company provided Grant Thornton with a copy of the disclosure it is making herein in response to Item 304(a) of Regulation S-K, and requested that Grant Thornton furnish the Company with a copy of its letter addressed to the Securities and Exchange Commission (the "SEC"), pursuant to Item 304(a)(3) of Regulation S-K, stating whether or not Grant Thornton agrees with the statements related to them made by the Company in this report. A copy of Grant Thornton's letter to the SEC dated July 11, 2025 is attached as Exhibit 16.1 to this report.
(b) Newly Engaged Independent Registered Public Accounting Firm
On July 10, 2025, the Company appointed BDO USA, LLP ("BDO") as the Company's new independent registered public accounting firm, effective immediately, to perform independent audit services for the fiscal year ending December 31, 2025 and the related interim periods. The appointment of BDO was approved by the Audit Committee. During the fiscal years ended December 31, 2024 and 2023, and through July 10, 2025, neither the Company, nor anyone on its behalf, consulted with BDO regarding either (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered with respect to the consolidated financial statements of the Company, and no written report or oral advice was provided to the Company by BDO that was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue; or (ii) any matter that was the subject of a "disagreement" (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) or a "reportable event" (as that term is defined in Item 304(a)(1)(v) of Regulation S-K).
Section 9 - Financial Statements and Exhibits
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