STOCK TITAN

Verde Resources appoints MBP Global as auditor

Verde reported five internal-control weakness areas in its annual reports for the fiscal years ended June 30, 2026 and June 30, 2025.

(Moderate)

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

Form Type
8-K

Rhea-AI Filing Summary

Verde Resources, Inc. dismissed J&S Associate PLT and appointed MBP Global LLP as its independent registered public accounting firm for the fiscal year ending June 30, 2027; both changes were effective immediately on October 6, 2026. J&S’s audit reports for the fiscal years ended June 30, 2026 and June 30, 2025 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principles. Verde reported no disagreements with J&S and no reportable events other than five previously disclosed material weaknesses in internal control over financial reporting: insufficient segregation of duties; insufficiently formalized policies, procedures and documentation; lack of a formalized regulatory reporting process and oversight; lack of an internal audit function; and lack of an audit committee. Verde said it did not consult MBP Global on accounting or audit matters before engaging the firm.

0 points · 0 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

1 major · 1 point

How the balance works

Positive

  • None.

Negative

  • Major pointVerde reported five material weaknesses in internal control over financial reporting for fiscal 2026 and 2025.

Filing Explained

The 8-K identifies J&S’s letter dated October 9, 2026 as Exhibit 16.1, but the supplied text does not include the letter, so J&S’s position on Verde’s disclosures cannot be determined here.

Item 4.01 Changes in Registrant's Certifying Accountant Governance
The company changed its independent auditing firm, which may involve disagreements on accounting matters.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Effective date of auditor changes October 6, 2026 J&S Associate PLT’s dismissal and MBP Global LLP’s appointment
New auditor engagement Fiscal year ending June 30, 2027 MBP Global LLP appointed as independent registered public accounting firm
Material weaknesses 5 areas Internal control over financial reporting; reported for fiscal years ended June 30, 2026 and June 30, 2025
independent registered public accounting firm financial
"as the Company’s independent registered public accounting firm"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
material weaknesses financial
"material weaknesses in the Company’s internal control over financial reporting"
Material weaknesses are significant flaws in a company’s systems for ensuring its financial reports are accurate and reliable. Like a broken lock on a safe, they increase the chance that financial statements contain big errors or omissions, which can mislead investors about performance and risk; discovering one often raises questions about management oversight, may lead to restated results, and can affect investor confidence and a company’s valuation.
segregation of duties technical
"insufficient segregation of duties"
Segregation of duties is the practice of splitting important financial and operational tasks among different people so no single person can both start, approve, and record the same transaction — like having one person ring up sales and another person deposit the money. For investors, it matters because this simple separation reduces the chance of mistakes or fraud, helps ensure financial reports are trustworthy, and lowers legal and reputation risk that can affect a company’s value.
reportable events regulatory
"there were no ... “reportable events”"
Reportable events are significant incidents or changes a company is legally required to disclose to regulators and the public, such as major safety problems, legal actions, financial irregularities, or management changes. They matter to investors because these events can alter a company’s risk profile or future performance, much like a dashboard warning light signals a problem that could affect a car’s safety or reliability. Timely disclosure helps investors make informed decisions and maintain market fairness.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who is VRDR's new independent auditor, and when did the appointment take effect?

Verde appointed MBP Global LLP as its independent registered public accounting firm for the fiscal year ending June 30, 2027, effective immediately on October 6, 2026. J&S Associate PLT’s dismissal was effective that day as well.

What internal-control weaknesses did VRDR report?

Verde reported five areas: insufficient segregation of duties; insufficiently formalized policies, procedures and documentation; lack of a formalized regulatory reporting process and oversight; lack of an internal audit function; and lack of an audit committee. The company had reported these weaknesses for the fiscal years ended June 30, 2026 and June 30, 2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Learn about SEC filing dates
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) October 9, 2026 (October 6, 2026)

 

Verde Resources, Inc.

 

(Exact name of registrant as specified in its charter)

 

Nevada   000-55276   32-0457838
(State or other jurisdiction of   (Commission   (IRS Employer
incorporation)   File Number)   Identification No.)

 

8112 Maryland Ave, Suite 400, St. Louis, Missouri 63105

(Address of principal executive offices)

 

Registrant’s telephone number, including area code (314) 530-9071

 

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
   
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
   
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
None   None   None

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this Chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this Chapter).

 

Emerging Growth Company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 4.01 Changes in Registrant’s Certifying Accountant.

 

On October 6, 2026, the board of directors of Verde Resources, Inc. (the “Company”) approved the dismissal of J&S Associate PLT (the “J&S”) as the Company’s independent registered public accounting firm, effective immediately, and concurrently approved the appointment of MBP Global LLP (“MBP Global”) as the Company’s independent registered public accounting firm for the fiscal year ending June 30, 2027, effective immediately.

 

The audit report of J&S on the Company’s consolidated financial statements as of and for the fiscal years ended June 30, 2026 and 2025 did not contain an adverse opinion or a disclaimer of opinion, and was not qualified or modified as to uncertainty, audit scope, or accounting principles, except as follows:

 

  ● J&S’ report on the consolidated financial statements of the Company as of and for the fiscal years ended June 30, 2026 and 2025, contained a separate section relating to Critical Audit Matters regarding the Impairment Assessment of Intellectual Properties.

 

During the Company’s fiscal years ended June 30, 2026 and 2025, and the subsequent period through October 6, 2026, there were no (i) “disagreements” (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and J&S 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 J&S, would have caused J&S to make reference to the subject matter of the disagreement in their reports on the financial statements for such years, or (ii) “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions), except that there were material weaknesses in the Company’s internal control over financial reporting reported by the Company in its Annual Reports on Form 10-K for the periods ended June 30, 2026 and 2025 related to (i) insufficient segregation of duties, (ii) insufficiently formalized policies, procedures and documentation, (iii) lack of formalized regulatory reporting process and oversight, (iv) lack of an internal audit function, and (v) lack of an audit committee of the board of directors.

 

Prior to engaging MBP Global, the Company did not consult with MBP Global regarding the application of accounting principles to a specific completed or contemplated transaction or regarding the type of audit opinions that might be rendered by MBP Global on the Company’s financial statements, and MBP Global did not provide any written or oral advice that was an important factor considered by the Company in reaching a decision as to any such accounting, auditing or financial reporting issue.

 

In accordance with Item 304(a)(3) of Regulation S-K, the Company has provided J&S with a copy of the foregoing disclosures and has requested that J&S furnish the Company with a letter addressed to the Securities and Exchange Committee stating whether J&S agrees with the statements made by the Company set forth above, and if it does not agree, the respects in which it does not agree. A copy of the letter, dated October 9, 2026, is filed as Exhibit 16.1 (which is incorporated by reference herein) to this Current Report on Form 8-K.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits.

 

16.1   Letter from J&S Associate PLT dated October 9, 2026
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

SIGNATURES

 

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.

 

  Verde Resources, Inc.
     
  By: /s/ Jack Wong
  Name: Jack Wong
  Title: Chief Executive Officer
     
Dated: October 9, 2026    

 

 

Filing Exhibits & Attachments

5 documents

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