NetBrands Corp. 8-K

What Happened
NetBrands Corp. announced it dismissed its independent registered public accounting firm, Aloba, Awomolo & Partners, effective March 31, 2026, and engaged Shah Teelani & Associates as its replacement. The board of directors recommended and approved the change.

Key Details

• Aloba, Awomolo & Partners had served as the Company’s auditor since April 10, 2025 and performed the audit of the 2024 consolidated financial statements and unaudited reviews for Q1, Q2 and Q3 2025.
• Aloba’s prior reports did not contain adverse opinions or disclaimers and were not qualified, but included explanatory paragraphs about the Company’s accumulated losses and negative cash flows (going concern).
• There were no disagreements or reportable events between NetBrands and Aloba during their engagement or through the date of the 8-K.
• Shah Teelani & Associates was engaged effective March 31, 2026; neither the Company nor anyone on its behalf consulted Shah Teelani on accounting or auditing matters for 2024, 2025, or the interim period prior to this filing.

Why It Matters
A change in independent auditor is material because it affects who reviews and signs off on the company’s financial statements. Investors should note that the previous auditor’s reports highlighted going concern uncertainty (accumulated losses and negative cash flow), but reported no disagreements with management. The new auditor, Shah Teelani & Associates, has not previously advised the company on accounting matters, so future audit reports will be the first from that firm for NetBrands.