Flow Capital Announces Change of Auditors
Flow Capital Corp. (TSXV:FW), a prominent provider of innovative growth capital and alternative debt solutions, has officially announced a strategic change in its auditing firm. The company is transitioning from Dale Matheson Carl-Hilton Labonte LLP (DMCL) to PricewaterhouseCoopers LLP (PwC). This decision, effective immediately, signifies a pivotal moment for Flow Capital as it continues its journey of expansion and enhancement in services.
Why the Change?
In a statement regarding this move, Michael Denny, the CFO of Flow Capital, expressed gratitude towards DMCL for their dedicated services over the past four years. He stated, "We appreciate the diligent work of DMCL over the past four years. As Flow Capital scales and pursues new opportunities, aligning with PwC provides us with the depth of resources and expertise that matches our long-term vision." This change is seen as a way to align the company’s financial oversight with its ambitious growth strategies.
Review Process and Findings
As per the National Instrument 51-102 regulations, the necessary documentation regarding the auditor change, including the required letters from both DMCL and PwC, has been reviewed and approved by Flow Capital’s Board of Directors and Audit Committee. This meticulous process ensures compliance and transparency, reflecting the company's commitment to maintain high standards in financial reporting.
Audit Report Insights
It is noteworthy that there were no reservations expressed in DMCL’s audit reports for the past two fiscal years, which demonstrates a strong financial health and compliance posture for Flow Capital. Additionally, there are no reportable events between Flow Capital and DMCL, which highlights a smooth operational relationship that has transitioned positively to PwC.
Supporting High-Growth Companies
Flow Capital is well-regarded in the business community for offering minimally dilutive, covenant-light financing solutions. Their focus remains on assisting high-growth technology companies in securing essential funding. They invite any growing companies interested in obtaining flexible growth capital to explore their funding opportunities.
Funding Opportunities
Potential applicants can find more information on the funding services provided by Flow Capital. The company specializes in financing arrangements that are tailored for revenue-generating businesses seeking between $2 million to $10 million in capital to fuel growth while avoiding the complexities associated with traditional financing routes.
About Flow Capital
Since its inception in 2018, Flow Capital has emerged as a vital player in the venture debt landscape, offering crucial financial support to businesses across the U.S., U.K., and Canada. Their approach allows companies to scale effectively without the burden of equity dilution or intricate bank loan processes.
Contact Information
For more information about Flow Capital or inquiries regarding their services, interested parties can reach out to:
Flow Capital Corp.
Alex Baluta
Chief Executive Officer
alex@flowcap.com
47 Colborne Street, Suite 303,
Toronto, Ontario M5E 1P8
Frequently Asked Questions
What prompted Flow Capital to change auditors?
The change was made to align with the company’s growth strategy, ensuring they have a partner with substantial resources and expertise.
Who is Flow Capital's new auditor?
Flow Capital has transitioned to PricewaterhouseCoopers LLP (PwC) as its new auditor.
What does Flow Capital specialize in?
Flow Capital specializes in providing flexible growth capital and alternative debt solutions to high-growth companies.
How long has Flow Capital been in operation?
Flow Capital has been in operation since 2018, providing essential financing to businesses across various regions.
How can companies apply for funding from Flow Capital?
Companies interested in funding can apply directly through Flow Capital’s official website, where they can find more information about the application process.
