Movano Inc. recently reported a significant change in its accounting practices, as the company's independent registered public accounting firm, Moss Adams LLP, resigned effective June 24, 2025. The resignation comes amidst Movano's exploration of strategic alternatives, including a potential sale or merger to maximize shareholder value. According to the company's disclosure, Moss Adams' audit reports for 2023 and 2024 did not contain adverse opinions, but did highlight a going concern uncertainty. Additionally, the company acknowledged material weaknesses in its internal controls, specifically in its control environment, IT general controls, and financial reporting processes. Movano has provided Moss Adams with a copy of their report and requested a response to the Securities and Exchange Commission, which will be included as an exhibit in their documentation.
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