Auditor Rebuts Company's Claims, Citing Unreliable Evidence and Undisclosed Matters
WAST has more than doubled off its 52-week low of $0.011 on light trading volume (0.1× avg).
Summary
Waste Energy Corp.'s former auditor, Integrität, filed a letter directly refuting the company's characterization of its resignation, citing material disagreements, unreliable information, and undisclosed matters that prevented the completion of the 2025 audit.
Key Events · Corporate Governance and Compliance · WAST
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Auditor Rebuts Company's Claims
Integrität Audit, Accounting & Advisory, LLC, the former auditor, filed a letter directly disagreeing with Waste Energy Corp.'s statements in the original 8-K, asserting there were material disagreements with management.
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Cites Unreliable Audit Evidence
The auditor stated that documentation and responses from management were often significantly delayed, inconsistent, erroneous, or omitted, leading to elevated risk regarding the reliability of certain information sources.
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Identified Undisclosed Matters
Integrität became aware of significant matters in the latter stage of the audit that had not been previously disclosed, necessitating modified audit procedures and reassessment as high risk.
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Management Disagreed with Remediation
The auditor reported that management did not agree to proposed remediation measures, and Integrität ultimately concluded that sufficient, reliable audit evidence could not be obtained, leading to their resignation without issuing an audit report.
Analysis · WAST · Trade & Services
This amended filing provides the auditor's direct letter, which strongly contradicts the company's narrative regarding its resignation. The auditor explicitly states there were disagreements with management, that information was often delayed, inconsistent, or omitted, and that they became aware of previously undisclosed significant matters. Crucially, the auditor concluded that "sufficient, reliable audit evidence could not be obtained." For a micro-cap company, this level of auditor disagreement and inability to obtain reliable evidence is a severe blow to financial credibility and investor trust, raising significant concerns about the integrity of the company's financial reporting.
At the time of this filing, WAST was trading at $0.04 on OTC in the Trade & Services sector, with a market capitalization of approximately $5.2M. The 52-week trading range was $0.01 to $0.09. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.