Item 4.01. Changes in Registrant's Certifying Accountant.

(a) Dismissal of Previous Independent Registered Public Accounting Firm

On June 29, 2020, the audit committee of the board of directors (the "Audit Committee") of electroCore, Inc. ("electroCore" or the "Company") authorized the dismissal of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm, and KPMG was dismissed as the Company's independent registered public accounting firm as of such date. KPMG served as the Company's independent registered public accounting firm for the fiscal years ended December 31, 2019 and 2018 and the subsequent periods through June 29, 2020.

KPMG's report on the Company's consolidated financial statements as of and for the years ended December 31, 2019 and 2018 did not contain an adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles, except as follows:

KPMG's report on the consolidated financial statements as of and for the fiscal years ended December 31, 2019 and 2018 contained a separate paragraph stating that "the Company has suffered recurring losses from operations and has a net capital deficiency that raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty."

During the Company's two most recent fiscal years ended December 31, 2019 and 2018 and the subsequent interim period through June 29, 2020: (i) there were no disagreements between the Company and KPMG on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of KPMG, would have caused them to make reference to the subject matter of the disagreements in connection with their opinion on the Company's consolidated financial statements; and (ii) there were no "reportable events" (as described in Item 304(a)(1)(v) of Regulation S-K).

The Company provided KPMG with a copy of the disclosures under this Item 4.01(a), and has requested and received from KPMG a copy of the letter addressed to the Securities and Exchange Commission stating whether KPMG agrees with such disclosure. A copy of the letter from KPMG is attached as Exhibit 16.1 to this Current Report on Form 8-K.

(b) Appointment of New Independent Registered Public Accounting Firm

Effective June 29, 2020, the Audit Committee authorized the appointment of Marcum LLP ("Marcum") as the Company's new independent registered public accounting firm for the fiscal year ending December 31, 2020, and Marcum was appointed as the Company's independent registered public accounting firm. The decision to change the Company's principal independent accountants was the result of a competitive process undertaken by management and the Audit Committee as well as the Company's focus on reducing its general and administrative expenses. During the Company's two most recent fiscal years ended December 31, 2019 and 2018, and the subsequent interim period through June 29, 2020, neither the Company nor anyone acting on behalf of the Company had consulted Marcum 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 on the Company's financial statements, nor did Marcum provide a written report or oral advice to the Company that Marcum concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issues; or (ii) any matter that was either 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 described in Item 304(a)(1)(v) of Regulation S-K).

Item 9.01 Financial Statements and Exhibits.





(d) Exhibits.



Exhibit No.   Description of Exhibit

16.1            Letter from KPMG LLP to the Securities and Exchange Commission dated
              July 2, 2020.

© Edgar Online, source Glimpses