SpringBig Swaps Auditor Amid Financial Collapse, Appoints VMCPA
SBIG has more than doubled off its 52-week low of $0.002 on elevated volume (2.1× avg).
Summary
SpringBig Holdings replaced its auditor WithumSmith+Brown with Victor Mokuolu, CPA PLLC effective July 30, 2026, amid ongoing financial distress and a recent reorganization that transferred its operating business to creditors.
Key Events · Corporate Governance and Compliance · SBIG
-
Auditor Dismissal
Effective July 30, 2026, the Audit Committee dismissed WithumSmith+Brown, PC as the company's independent registered public accounting firm.
-
New Auditor Appointed
Victor Mokuolu, CPA PLLC was appointed as the new independent registered public accounting firm, also effective July 30, 2026.
-
Going Concern Warning
Withum's audit reports for fiscal years 2024 and 2025 contained an explanatory paragraph stating substantial doubt about the company's ability to continue as a going concern.
-
Material Weaknesses Remediated
Material weaknesses in internal control over financial reporting identified in fiscal 2024 were remediated as of December 31, 2025.
Analysis · SBIG · Technology
On July 30, 2026, SpringBig Holdings dismissed its auditor WithumSmith+Brown and appointed Victor Mokuolu, CPA PLLC. The change arrives as the company grapples with going concern warnings, defaulted notes, and a Section 272 reorganization that handed its operating business to creditors. While Withum's reports did not contain adverse opinions, they did include a going concern explanatory paragraph. The company previously disclosed material weaknesses in internal controls for fiscal 2024, remediated by end of 2025. Auditor changes during financial distress often raise concerns about audit quality and the company's ability to continue as a going concern.
At the time of this filing, SBIG was trading at $0.01 on OTC in the Technology sector, with a market capitalization of approximately $243.9K. The 52-week trading range was $0.00 to $0.07. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.