American Fusion Names MBP Global as New Auditor, Corrects Prior Press Release
Summary
American Fusion engaged MBP Global LLP on October 20, 2026 as its new auditor for FY2026 and the Q3 review, and corrected its October 7 press release to state that departing auditor JV CPA gave no reason for resigning.
Key Events · Corporate Governance and Compliance · AMFN
-
New Auditor Engaged
American Fusion engaged MBP Global LLP on October 20, 2026 to audit the year ending December 31, 2026 and review interim financials for the quarter ended September 30, 2026.
-
Press Release Corrected
The October 7, 2026 press release wrongly said JV CPA resigned citing health reasons; JV CPA stated no reason, did not review or approve the release, and its letter agrees only with the Item 4.01(a) statements.
-
No Disagreements Disclosed
The filing reports no disagreements and no reportable events with JV CPA during fiscal 2025, 2024, or the interim period through October 1, 2026.
-
Audit Gap Risk
JV CPA's resignation effective October 1, 2026 covered all further audit and review services, leaving the Q3 review and FY2026 audit to be picked up by the successor firm.
Analysis · AMFN · Energy & Transportation
The company has replaced the auditor that walked out on October 1, 2026, engaging MBP Global LLP on October 20, 2026 to audit FY2026 and review the September 30 quarter. That matters because the prior auditor's resignation left the Q3 review and the year-end audit without a firm, and a company already carrying a going-concern warning and only $79,341 in cash cannot afford a gap in its reporting. The amendment also retracts the earlier claim that JV CPA resigned over health reasons — JV CPA gave no reason, and its letter agrees only with the narrow Item 4.01(a) statements, not the company's broader characterization. No disagreements or reportable events are disclosed, which limits the damage, but the sequence of an unexplained auditor exit followed by a correction of the company's own press release is a governance concern worth weighing alongside the pending conversion of up to $2.88M of insider compensation into Series C preferred.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.3% of the 1529 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AMFN was trading at $0.07 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $112.5M. The 52-week trading range was $0.00 to $0.20. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.