Company: VALU
Filing Date: 2025-08-22
Form Type: DEF 14A
Source: 0001437749-25-027553
Chunk: 15

Company: VALUE LINE INC
Filing Date: 2025-08-22
Form: DEF 14A
Chunk 15
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 (the “PCAOB”).

Horowitz & Ullmann, P.C. provided a report to the Audit Committee describing Horowitz & Ullmann, P.C.’s internal quality-control procedures and related matters. Horowitz & Ullmann, P.C. also provided to the Audit Committee the written disclosures and the letter required by the applicable requirements of the PCAOB regarding Horowitz & Ullmann, P.C.’s communications with the Audit Committee concerning independence, and the Audit Committee discussed with Horowitz & Ullmann, P.C. the firm’s independence. When considering the independence of Horowitz & Ullmann, P.C., the Audit Committee considered, among other matters, whether Horowitz & Ullmann, P.C.’s provision of non-audit services to Value Line is compatible with maintaining the independence of Horowitz & Ullmann, P.C.

Based on the reviews and discussions with management and Horowitz & Ullmann, P.C. referred to above, the Audit Committee has recommended to the Board that the audited consolidated financial statements as of April 30, 2025 and for the fiscal year then ended be included in Value Line’s Annual Report on Form 10-K for such fiscal year. Horowitz & Ullmann, P.C. was also selected as Value Line’s independent registered public accounting firm for the fiscal year 2026.

| Stephen P. Davis          
 Alfred R. Fiore           
 Glenn J. Muenzer          
 Audit Committee           
 of the Board of Directors |

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Audit and Non-Audit Fees

The following table illustrates for the fiscal years ended April 30, 2025 and 2024, the fees paid to the Company’s independent auditor, Horowitz & Ullmann P.C., for services provided:

|                    |     |   |    2025 |     |   |    2024 |
|:-------------------|:----|:--|--------:|:----|:--|--------:|
| Audit fees         |     | $ | 166,000 |     | $ | 166,000 |
| Audit-related fees |     |   |  56,875 |     |   |  48,415 |
| Tax related fees   |     |   | 117,580 |     |   | 133,225 |
| Total              |     | $ | 340,555 |     | $ | 347,640 |

In the above table,