8-K/A: Bright Mountain Media Changes Auditors

Bright Mountain Media, Inc. amends its prior 8-K filing to include a letter from its former auditor, WithumSmith+Brown, PC, confirming agreement with the company's statements regarding the dismissal.

Summary

• This filing is an amendment to a previous Form 8-K, specifically addressing the change in Bright Mountain Media, Inc.'s independent registered public accounting firm.
• The company dismissed WithumSmith+Brown, PC (Withum) as its auditor effective September 21, 2026.
• The dismissal was approved by the Audit Committee of the Board of Directors.
• Withum's audit reports for fiscal years 2025 and 2024 included an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.
• There were no disagreements or reportable events with Withum on accounting principles, financial statement disclosure, or auditing procedures.
• Bright Mountain Media, Inc. has engaged Grassi & Co., Certified Public Accountants, P.C. (Grassi) as its new independent auditor, effective September 17, 2026.
• Grassi was consulted on matters related to the audit for the quarter ending September 30, 2026, and the fiscal year ending December 31, 2026.
• The amendment includes Exhibit 16.1, a letter from Withum dated September 24, 2026, confirming their agreement with the company's statements about the firm in the original 8-K filing.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a neutral to slightly negative development, primarily due to the change in auditors, which can sometimes signal underlying issues, though no specific disagreements were reported.

Positives

• The company has secured a new independent auditor, Grassi & Co., to continue its financial statement audits.
• The former auditor, WithumSmith+Brown, PC, has provided a letter agreeing with the company's statements regarding the dismissal, indicating no unresolved disputes.
• The change in auditors was approved by the Audit Committee of the Board of Directors, suggesting adherence to governance procedures.

Negatives

• The dismissal of an auditor, even without stated disagreements, can raise questions about the company's financial health or relationship with its auditors.
• The previous auditor's reports for fiscal years 2025 and 2024 contained an explanatory paragraph regarding substantial doubt about the Company's ability to continue as a going concern.

Risks

• The prior auditor's reports highlighted substantial doubt about the Company's ability to continue as a going concern, indicating potential financial instability.
• A change in auditors can sometimes precede or coincide with a deeper review of financial statements, potentially uncovering previously undisclosed issues.

Future Outlook

The company has appointed a new auditor, Grassi & Co., to conduct audits for the quarter ending September 30, 2026, and the fiscal year ending December 31, 2026. No specific financial guidance or forward-looking statements related to business operations are present in this amendment.

Management Comments

• The dismissal of Withum was approved by the Audit Committee of the Company's Board of Directors.
• The company provided Withum with a copy of the disclosures in Item 4.01 and requested a letter stating whether or not they agree with the statements made.

Industry Context

StockSavvy.ai notes that auditor changes are not uncommon, but they can sometimes be a signal for investors to scrutinize a company's financial reporting and governance more closely, especially when coupled with prior going concern disclosures.

Corporate Governance

Stakeholder Impact

• Shareholders: May experience increased scrutiny of financial reporting and potential uncertainty due to the auditor change and prior going concern warnings.
• Creditors: May be concerned about the company's financial stability, given the prior going concern disclosures.
• Management: Must ensure a smooth transition with the new auditor and address any underlying financial concerns.

Next Steps

• Grassi & Co. will conduct the audit for the quarter ending September 30, 2026, and the fiscal year ending December 31, 2026.
• The company will continue its financial reporting obligations.

Key Dates

Keywords

Auditor Change, Independent Auditor, Accounting Firm, Financial Reporting, Audit Committee, Going Concern, Regulation S-K