Concrete Leveling Systems Inc 8-K

What Happened

• Concrete Leveling Systems, Inc. filed an 8-K on June 12, 2026 announcing that its Board and its prior auditor, Stephano Slack LLC, mutually agreed to end their relationship effective June 12, 2026.
• Stephano's audit report on the Company’s consolidated financial statements for the fiscal year ended July 31, 2025 contained no adverse or qualified opinion but did include an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern. The Company reports no disagreements with Stephano during the fiscal year or the interim period before dismissal. Stephano provided a letter to the Company that is attached to the filing.
• The Board engaged Sadler, Gibb & Associates, LLC as the Company’s new independent registered public accounting firm, effective June 12, 2026, to audit the consolidated financial statements for the fiscal year ended July 31, 2025. The Company says it did not consult Sadler Gibb about accounting or audit matters for that period prior to engagement.

Key Details

• Effective date of change: June 12, 2026.
• Prior auditor: Stephano Slack LLC — its FY 2025 report included a going-concern explanatory paragraph.
• New auditor: Sadler, Gibb & Associates, LLC — engaged to audit FY ending July 31, 2025.
• No disagreements with Stephano during FY 2025 or the interim period; no prior consultations with Sadler Gibb about FY 2025 matters.

Why It Matters

• A change in independent auditor is material because it affects who will review and sign the company’s audited financial statements. Investors should note the prior auditor’s going-concern paragraph for FY 2025, which signals material uncertainty about the company’s ability to continue operations.
• Watch for the upcoming audited financial statements and any auditor communications from Sadler Gibb in future filings—these will clarify whether the new auditor reaches similar conclusions and what that means for the company’s financial condition.