Hapi Metaverse Appoints New Auditor
The transition marks a strategic step for the company amid ongoing financial uncertainties highlighted in prior audits.
July 03, 2025
Hapi Metaverse Switches Audit Firms After Two Years of Going Concern Warnings
Hapi Metaverse is making a key move in how it manages financial oversight. As of July 2, 2025, the company has ended its relationship with Grassi & Co. and brought on HTL International, LLC to serve as its independent auditor for the 2025 fiscal year. The switch was approved by the Board of Directors and comes after two consecutive years in which Grassi flagged concerns about the company’s ability to continue as a going concern.
Grassi’s audit reports for 2023 and 2024 were clean from a technical standpoint—no adverse opinions, no qualifications, and no exceptions on audit scope or accounting principles. But both reports included a note on the company’s financial outlook, calling attention to uncertainty around its ability to operate without further support or improvement. That concern, while not an accusation of wrongdoing, was a signal that stakeholders needed to watch closely.
Still, the relationship between Hapi and Grassi ended on solid ground. There were:
- No disagreements over accounting policies or disclosure practices
- No reportable events tied to internal controls or audit procedures
Grassi’s final step was to confirm these facts in a letter to the SEC, which Hapi included in its latest report.
As for HTL, this will be their first engagement with the company. Hapi confirmed it hasn’t previously consulted with HTL on any accounting matters or sought input on how the firm might approach the audit. That clean slate gives both sides the opportunity to start fresh.
With this change, Hapi Metaverse is adjusting how it approaches financial reporting, signaling a willingness to adapt and move forward. HTL will now handle the audit for the current fiscal year, and its review may offer new insights into how Hapi’s financials are tracking.
For now, the transition puts a spotlight on accountability. With HTL in place, Hapi is preparing for its next round of reporting—and aiming to bring sharper clarity to its financial outlook as it continues to manage through operational headwinds.
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