Core Viewpoint - ALT5 Sigma is under scrutiny due to its newly appointed auditor being barred from conducting audits because of an expired license, raising compliance concerns for the company [1][9]. Group 1: Auditor Issues - ALT5 Sigma replaced its previous auditor after failing to file its third-quarter financial results on time, appointing Victor Mokuolu CPA PLLC, which currently lacks an active firm license [3][9]. - The firm's license expired in August and had not been renewed by late December, preventing it from conducting audit work under Texas regulations [4]. - ALT5 Sigma acknowledged that no reviews or audits of its financial statements will occur until the firm's license is reactivated, with a peer review expected to be completed by the end of January [5]. Group 2: Compliance Concerns - The company has faced multiple compliance issues, transitioning from an appliance recycling business to biotech, fintech, and crypto, and is backed by World Liberty Financial, linked to the Trump family [6]. - Regulatory records indicate that the auditing firm has previously missed filing deadlines, resulting in enforcement actions and fines for failing to notify regulators of multiple public company audits [7]. Group 3: Stock Performance and Delisting Risk - ALT5 Sigma's operational challenges have led to a significant decline in stock value, with shares down over 77% since the start of 2025, reflecting investor concerns about the company's ability to meet disclosure requirements [8]. - The company faces potential delisting from Nasdaq after missing the deadline to file its quarterly report for the period ending September [8].