Item 4.01 Change in Registrant's Certifying Accountant.
On October 31, 2022, Liggett & Webb P.A. ("L&W") resigned as the independent
auditors of Luvu Brands, Inc., a company incorporated under the laws of the
State of Florida (the "Company"). The Company's Board of Directors accepted
L&W's termination on October 31, 2022.
The reports of L&W on the financial statements of the Company as of and for the
fiscal years ended June 30, 2022 and 2021 did not contain any adverse opinion or
disclaimer of opinion and were not qualified or modified as to uncertainty,
audit scope or accounting principles.
During the Company's most recent fiscal years and the subsequent interim period
through October 31, 2022, there were no disagreements with L&W on any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreement(s), if not resolved to the satisfaction
of L&W, would have caused it to make reference to the subject matter of the
disagreement(s) in connection with its report. During the Company's most recent
fiscal years and the subsequent period through October 31, 2022, there were no
reportable events of the type described in Item 304(a)(1)(v) of Regulation S-K.
The Company provided L&W with a copy of the foregoing disclosure and requested
L&W to furnish the Company with a letter addressed to the Securities and
Exchange Commission stating whether it agrees with the statements made therein.
A copy of such letter furnished by L&W is filed as Exhibit 16.2 to this form
8-K.
On October 31, 2022, the Board of Directors of the Company approved the
engagement of Assurance Dimensions ("Assurance") as the Company's independent
registered public accounting firm for the review of the Company's quarterly
report on Form 10-Q for the period ended September 30, 2022.
During the Company's most recent fiscal years and the subsequent interim period
through October 31, 2022, neither the Company nor anyone acting on its behalf
has consulted with Assurance regarding (i) the application of accounting
principles to a specific transaction, either completed or proposed, or the type
of audit opinion that might be rendered on the Company's financial statements or
the effectiveness of internal control over financial reporting, and neither a
written report or oral advice was provided to the Company that Assurance
concluded was an important factor considered by the Company in reaching a
decision as to any accounting, auditing, or financial reporting issue; (ii) any
matter that was the subject of a disagreement within the meaning of Item
304(a)(1)(iv) of Regulation S-K, or (iii) any reportable event within the
meaning of Item 304(a)(1)(v) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
16.1 Letter from Liggett & Webb P.A., dated November 3, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
2
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