Business Context and Reporting Period
This Form 8-K is a current report filed by BioVie Inc. on January 18, 2019. The filing discloses a change in the Company's independent registered public accounting firm for the fiscal year ending June 30, 2019. BioVie Inc. is a biopharmaceutical company incorporated in Nevada.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document is strictly a disclosure of a corporate governance event regarding the audit firm.
Material Changes
- Accountant Change: The Audit Committee appointed EisnerAmper LLP as the new independent registered public accounting firm, effective January 18, 2019.
- Reason for Change: The selection was driven by a desire to work with a firm possessing greater experience with biopharmaceutical companies.
- Outgoing Firm: D. Brooks and Associates CPAs, P.A. was replaced. D. Brooks had reported on the financial statements for the fiscal year ended June 30, 2018.
- Historical Context: The prior accountant, Weinberg & Baer LLC, reported on the fiscal year ended June 30, 2017.
Guidance, Outlook, and Risks
Management Commentary: The Company confirmed that during the two most recent fiscal years and the subsequent interim period, there were no disagreements with D. Brooks regarding accounting principles, practices, financial disclosure, or auditing scope. Additionally, no reportable events occurred under Regulation S-K Item 304(a)(v)(A)-(D).
Consultations: BioVie did not consult with the new firm, EisnerAmper, regarding any matters set forth in Item 304(a)(2)(i) or (ii) of Regulation S-K during the relevant period.
Risks and Contingencies: The filing does not disclose new material risks or contingencies beyond the standard disclosure of the accountant change.
Key Facts for Investor Verification
- Verify the letter from the former accountant, D. Brooks and Associates CPAs, P.A., attached as Exhibit 16, to confirm their agreement with the Company's disclosures regarding the change.
- Confirm that the new auditor, EisnerAmper LLP, has the specific biopharmaceutical industry experience cited as the reason for the switch.
- Note that the change is effective for the fiscal year ending June 30, 2019, and does not retroactively alter the 2018 audit report.