PORTSMOUTH SQUARE INC 8-K

What Happened
PORTSMOUTH SQUARE INC (PRSI) announced in an 8-K filed March 23, 2026 (Item 4.01) that it has dismissed its independent registered public accounting firm, WithumSmith+Brown, PC, effective immediately. The company stated that for the fiscal years ended June 30, 2025 and 2024 and the interim period through March 19, 2026, there were no disagreements with Withum concerning accounting principles, financial statement disclosure, or auditing scope/procedures, and there were no reportable events as defined in Regulation S-K Item 304.

Key Details

• Dismissal announced March 23, 2026; change is effective immediately.
• No disagreements with Withum on accounting, disclosure, or auditing scope for FY2025, FY2024, and through March 19, 2026.
• No “reportable events” (per Item 304(a)(1)(v) of Regulation S‑K) were identified during those periods.
• Company provided Withum a copy of the Form 8‑K and requested a letter to the SEC; Withum’s letter dated March 23, 2026 is filed as Exhibit 16.1.

Why It Matters
A change in independent auditor is a material corporate event because it affects who reviews and attests to the company’s financial statements. For investors, the filing’s disclosure that there were no disagreements or reportable events reduces immediate audit-related concerns. Still, investors should watch for follow-up filings naming the successor auditor and any commentary about audit scope or internal controls, since those future disclosures will clarify continuity and any potential impacts on financial reporting and investor confidence.