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- ScanTech AI Systems appoints Berkowitz Pollack Brant as new auditor
- Audit to enhance financial reporting and internal controls
- Part of Nasdaq re-compliance plan
- Company focuses on transparency and integrity in disclosures
- New auditor to conduct 2025 financial statement audit
- Continued emphasis on strengthening financial reporting standards.
Atlanta, GA, September 12, 2025 — ScanTech AI Systems Inc. (Nasdaq: STAI), a developer of advanced AI-powered security screening and imaging technology, has appointed Berkowitz Pollack Brant Advisors + CPAs (BPB) as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, and certain interim periods, according to a
.The appointment of BPB signifies a strategic move by ScanTech AI to enhance its financial reporting and internal controls as part of its broader Nasdaq re-compliance plan. BPB will conduct the audit of the company's 2025 financial statements, emphasizing integrity and transparency in financial disclosures. Dolan Falconer, Chief Executive Officer of ScanTech AI, expressed his optimism about the new partnership: "We welcome Berkowitz Pollack Brant as our new independent auditor and look forward to their guidance as we continue to elevate our reporting standards. This appointment aligns with our broader Nasdaq compliance and governance initiatives and supports our commitment to accurate, timely, and transparent financial reporting."
The auditor appointment comes on the heels of ScanTech AI's recent purchase agreement with ARC Group International Ltd. (ARC), under which ARC committed to provide up to $50 million in capital to the company via an Equity Line of Credit (ELOC) once the shares for such ELOC are registered with the U.S. Securities and Exchange Commission (SEC). The company expects to file a registration statement with the SEC to register the resale of securities issuable under the ELOC. The combination of expanded audit oversight and strategic financing flexibility is intended to enhance the company's financial stability and support its long-term growth objectives.
ScanTech AI's focus on transparency and integrity in financial disclosures is evident in its ongoing efforts to strengthen its financial reporting standards. The company's state-of-the-art scanners utilize proprietary AI and machine learning capabilities to detect hazardous materials and contraband, making it a leader in the security technology sector. The appointment of BPB as its new auditor underscores ScanTech AI's commitment to maintaining high standards of financial reporting and compliance.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to, among other things, the company's ability to draw funds under the ELOC, complete additional financings, maintain its Nasdaq listing, regain compliance with Nasdaq listing standards, execute its growth strategy, and develop or commercialize its technologies. Forward-looking statements are subject to numerous risks and uncertainties, many of which are beyond the company's control, as noted in the MarketScreener report.
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