8-K: Eva Live Inc. Changes Accounting Firms Following OTC Markets Group Action

Eva Live Inc. dismisses Olayinka Oyebola & Co. and engages Lao Professionals as its new independent registered public accounting firm.

Summary

• On April 3, 2025, Eva Live Inc.'s Board of Directors dismissed Olayinka Oyebola & Co. as its independent registered public accounting firm.
• The dismissal was due to recent changes in Olayinka's status by OTC Markets Group as a Prohibited Service Provider.
• Olayinka was only retained by the Company for less than a month, and no reports were filed with the SEC.
• On the same day, April 3, 2025, the Company engaged Lao Professionals as its new independent registered public accounting firm for the fiscal years ending 2023 and 2024.
• The selection of LAO was based on its ability to meet the Company's reporting requirements and its alignment with the Company's needs.
• Olayinka Oyebola & Co. provided a letter dated April 3, 2025, agreeing with the statements made by Eva Live Inc. regarding their dismissal.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the unexpected change in auditors and the reason behind it, which could raise concerns about the company's compliance and internal controls.

Negatives

• The dismissal of Olayinka Oyebola & Co. was due to their status as a Prohibited Service Provider by OTC Markets Group, which could raise concerns about previous compliance.

Risks

• The change in accounting firms could potentially lead to delays or increased costs in financial reporting.
• The need to quickly engage a new auditor may indicate underlying issues or increased scrutiny.

Industry Context

Changes in auditors are not uncommon, but the reason for the change (Prohibited Service Provider status) is unusual and could raise concerns among investors and regulators.

Stakeholder Impact

• Shareholders may be concerned about the reason for the auditor change and its potential impact on the company's financial reporting.
• The company needs to ensure a smooth transition to the new auditor to maintain investor confidence.

Key Dates

Keywords

accounting firm, auditor, Eva Live Inc., Olayinka Oyebola & Co., Lao Professionals, OTC Markets Group, dismissal, engagement