Goldenwell Biotech, Inc 8-K, filed May 20, 2024
Goldenwell Biotech, Inc. (GWLL)
About this 8-K
Goldenwell Biotech, Inc filed this 8-K on May 20, 2024, reporting on events of May 15, 2024.
Items reported
- Item 4.01: Change of auditor
- Item 9.01: Financial statements and exhibits
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Item 4.01 Changes in Registrant’s Certifying Accountant
(a) On May 14, 2024, Goldenwell Biotech, Inc. (the “Company”) notified BF Borgers CPA PC (“BF Borgers”) that the Company had dismissed BF Borgers as the independent registered public accounting firm of the Company. The Board of Directors of the Company recommended and approved the dismissal.
The reports of BF Borgers regarding the Company’s financial statements as of December 31, 2023 and 2022, and the related consolidated statements of operations and comprehensive loss, consolidated statements of changes in stockholders’ equity, and consolidated statements of cash flows for the years then ended, contained no adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principle. The reports of BF Borgers, however, stated that there is substantial doubt about the Company’s ability to continue as a going concern.
For the years ended December 31, 2023 and 2022, and during the subsequent interim period through the date of dismissal, the Company had no disagreement with BF Borgers on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement, if not resolved to the satisfaction of BF Borgers, would have caused them to make reference thereto in their report on the Company’s financial statements for such year ended December 31, 2023 and 2022. There were no reportable events, as listed in Item 304(a)(1)(v) of Regulation S-K.
The Company provided BF Borgers a copy of the above disclosures and requested BF Borgers to furnish a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. BF Borgers’s response is attached as Exhibit 16.1 to this Current Report on Form 8-K.
(b) On May 15, 2024, the board of directors of the Company resolved to engage the independent registered public accounting firm Yusufali & Associates, LLC (“Yusufali & Associates”), as the Company’s new independent registered public accountants, which appointment Yusufali & Associates has accepted.
During the two most recent fiscal years and the interim period preceding the engagement of Yusufali & Associates, the Company has not consulted with Yusufali & Associates regarding either: (i) the application of accounting principles, (ii) the type of audit opinion that might be rendered by Exelient or (iii) any other matter that was the subject of disagreement between the Company and its former auditor as described in Item 304(a)(1)(iv), or a reportable event as described in paragraph 304(a)(1)(v), of Regulation S-K. The Company did not have any disagreements with Exelient and therefore did not discuss any past disagreements with Yusufali & Associates.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit |
| Description |
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104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GOLDENWELL BIOTECH, INC. | |||
| Date: May 20, 2024 | By: | /s/ Shuang Liu | |
| Name: | Shuang Liu | |
| Title: | Chief Executive Officer | ||
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EXHIBIT 16.1
May 20, 2024
United States Securities and Exchange Commission
Office of the Chief Accountant
100 F Street, N.E.
Washington, D.C. 20549
Re: Goldenwell Biotech, Inc.
Ladies and Gentleman:
We have read the statements under item 4.01 in the Form 8-K dated May 15, 2024, of Goldenwell Biotech, Inc. (the “Company”) to be filed with the Securities and Exchange Commission and we agree with such statements therein as related to our firm. We have no basis to, and therefore, do not agree or disagree with the other statements made by the Company in the Form 8-K.
Sincerely,
BF Borgers CPA PC
Certified Public Accountants
Lakewood, CO