Greenlane Holdings, Inc. Dismisses Marcum LLP as Independent Registered Accountant; Engages PKF O’Connor Davies

On November 20, 2024, Greenlane Holdings, Inc. (NASDAQ: GNLN) filed a Form 8-K with the Securities and Exchange Commission announcing the dismissal of Marcum LLP as the company’s independent registered public accounting firm. The termination was effective as of the mentioned date and was decided by the Audit Committee of the Board of Directors.

According to the filing, Marcum’s report on Greenlane Holdings’ consolidated financial statements as of December 31, 2023, and December 31, 2022, did not contain any adverse opinion, disclaimer of opinion, nor was it qualified or modified in terms of uncertainty, audit scope, or accounting principles. However, there were some explanatory paragraphs included in the reports for the years ending December 31, 2023, and 2022, highlighting certain concerns.

During the stated periods leading up to November 20, 2024, Greenlane Holdings reported no disagreements with Marcum on accounting principles, financial statement disclosure, or auditing procedures that would have necessitated disclosures by the independent accounting firm.

Additionally, the company disclosed several material weaknesses in its internal control over financial reporting in its Annual Reports on Form 10-K for the years ending December 31, 2023, and 2022. Management of Greenlane Holdings emphasized its belief that despite these weaknesses, the financial statements in the Form 10-K complied with US generally accepted accounting principles.

Concurrently, Greenlane Holdings announced the appointment of PKF O’Connor Davies as its new independent registered public accounting firm, effective immediately. The company’s Audit Committee approved PKF’s engagement for the fiscal year ending December 31, 2024. It was clarified that there were no consultations between the company and PKF during the specified periods regarding accounting principles, audit opinions, or any disagreements or reportable events.

In accordance with regulatory requirements, Greenlane Holdings provided Marcum with a copy of the disclosures in the Form 8-K and requested their response to the statements made within. This documentation, along with further details, is available for review in the filed Form 8-K.

Alongside the appointments and terminations, Greenlane Holdings included the necessary exhibits in the filing, including a letter from Marcum LLP dated November 25, 2024, and the Cover Page Interactive Data File.

Chief Executive Officer Barbara Shur, on behalf of Greenlane Holdings, signed the Form 8-K as of November 26, 2024, as required by the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Greenlane’s 8K filing here.

About Greenlane

Greenlane Holdings, Inc develops and distributes cannabis accessories, vape solutions, and lifestyle products in the United States, Canada, and Europe. It operates in two segments, Consumer Goods and Industrial Goods. The company provides consumption accessories, vaporizers, pipes, rolling papers, grinders, and apparel lines, as well as bubblers, rigs, other smoking and vaporization related accessories, and merchandise.