Business Context and Reporting Period
Company: Greenwich LifeSciences, Inc. (GLSI)
Filing Type: Form 8-K (Current Report)
Date of Report: July 19, 2025
Reporting Period: The filing addresses events occurring on July 19, 2025, regarding the change of the independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance and audit firm changes.
Material Changes
- Dismissal of Auditor: The Audit Committee approved the dismissal of RBSM LLP as the independent registered public accounting firm, effective immediately on July 19, 2025.
- Engagement of New Auditor: MaloneBailey LLP was engaged to audit the consolidated financial statements for the year ended December 31, 2025.
- Historical Audit Opinions: RBSM's reports for the years ended December 31, 2024, and 2023 did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- Internal Control Weaknesses: The filing acknowledges material weaknesses in internal control over financial reporting previously disclosed in the Company's 10-K and 10-Q filings for periods ending through March 31, 2025.
Guidance, Outlook, and Risks
Management Commentary: The Audit Committee has discussed the material weaknesses in internal controls with RBSM and authorized RBSM to respond fully to inquiries from MaloneBailey regarding these weaknesses.
Disagreements: There were no disagreements between the Company and RBSM on accounting principles, practices, or auditing scope during the years ended December 31, 2024 and 2023, or through July 19, 2025.
Consultations: The Company did not consult with MaloneBailey regarding accounting principles or audit opinions prior to their engagement.
Investor Verification Checklist
- Verify the specific nature of the material weaknesses in internal controls over financial reporting detailed in the Company's most recent 10-K and 10-Q filings.
- Review the letter from RBSM LLP (Exhibit 16.1) to confirm their agreement with the Company's statements regarding the dismissal.
- Monitor future filings for the transition plan and remediation efforts regarding the identified internal control weaknesses under the new auditor.
- Confirm the timeline for MaloneBailey LLP's initial audit report for the fiscal year ending December 31, 2025.