Solana (HSDT) switches auditors to CBIZ CPAs; no disagreements
Rhea-AI Filing Summary
Solana Company reported a change in its independent auditor. On October 15, 2025, Baker Tilly US, LLP resigned as the Company’s independent registered public accounting firm, and the Audit Committee approved the appointment of CBIZ CPAs P.C. as auditor for the fiscal year ending December 31, 2025.
Baker Tilly’s audit reports for 2024 and 2023 had an explanatory paragraph expressing substantial doubt about the Company’s ability to continue as a going concern. The Company states there were no disagreements and no reportable events with Baker Tilly through October 15, 2025. A confirming letter from Baker Tilly is filed as Exhibit 16.1.
Positive
- None.
Negative
- None.
8-K Event Classification
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Item 4.01Changes in Registrant’s Certifying Accountant.
(a) Resignation of Previous Independent Registered Public Accounting Firm
On October 15, 2025, the Audit Committee (the “Committee”) of the Board of Directors of Solana Corporation (formerly known as Helius Medical Technologies, Inc.) (the “Company”) received the resignation of Baker Tilly US, LLP (“Baker Tilly”) as the Company’s independent registered public accounting firm, effective immediately. The Committee accepted Baker Tilly’s resignation.
The reports of Baker Tilly on the Company’s consolidated financial statements for each of the two most recent fiscal years ended December 31, 2024 and 2023 did not contain an adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles, except that such reports contained an explanatory paragraph expressing substantial doubt as to the Company’s ability to continue as a going concern.
During the Company’s two most recent fiscal years ended December 31, 2024 and 2023 and the subsequent interim period through October 15, 2025, there were (a) no “disagreements” (as that term is described in Item 304(a)(1)(iv) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended (“Regulation S-K”) and the related instructions) with Baker Tilly on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Baker Tilly, would have caused it to make reference to the subject matter of the disagreements in connection with its reports and (b) no “reportable events,” as defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions.
The Company provided Baker Tilly with a copy of the foregoing disclosures and requested that Baker Tilly furnish a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements made herein, as specified by Item 304(a)(3) of Regulation S-K. A copy of Baker Tilly’s letter, dated October 16, 2025, is filed as Exhibit 16.1 to this Current Report on Form 8-K.
(b) Engagement of New Independent Registered Public Accounting Firm
On October 15, 2025, the Committee approved the appointment of CBIZ CPAs P.C. (“CBIZ CPAs”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025.
During the Company’s two most recent fiscal years ended December 31, 2024 and 2023 and the subsequent interim period through October 15, 2025, neither the Company nor anyone on its behalf consulted with CBIZ CPAs 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 consolidated financial statements, and neither a written report or oral advice was provided to the Company that CBIZ CPAs 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 and the related instructions, or (iii) any reportable event within the meaning of Item 304(a)(1)(v) of Regulation S-K and the related instructions.
Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
Exhibit No. |
| Description |
16.1 | Letter from Baker Tilly US, LLP to the Securities and Exchange Commission, dated October 16, 2025. | |
104 | Cover Page Interactive Data File (embedded within Inline XBRL document). |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SOLANA COMPANY. | ||
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Dated: October 16, 2025 |
| By: | /s/ Jeffrey S. Mathiesen |
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| Jeffrey S. Mathiesen |
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| Chief Financial Officer, Treasurer and Secretary |
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