Business Context and Reporting Period
Company: PharmaCyte Biotech, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: May 26, 2015
Event: Change in Registrant's Certifying Accountant (Item 4.01).
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 the administrative change of the company's auditing firm.
Material Changes
- Accountant Change: The Company dismissed Robison, Hill & Co. ("RHC") as its principal certifying accountant and engaged Farber Hass Hurley LLP ("FHH") effective May 26, 2015.
- Reason for Change: RHC elected to cease representing public companies. The filing explicitly states the change was not due to dissatisfaction with the quality of professional services rendered by RHC.
- Audit History: RHC's reports for fiscal years ended April 30, 2014, and 2013 contained no adverse opinions, disclaimers, or qualifications.
- Disagreements: There were no disagreements with RHC regarding accounting principles, practices, financial statement disclosures, or auditing scope/procedures during the fiscal years ended April 30, 2015 and 2014, or the interim period through May 26, 2015.
- Reportable Events: No "reportable events" as defined by Regulation S-K Item 304(a)(1)(v) occurred during the relevant periods.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or specific risk factors related to operations. The primary contingency noted is the transition of audit responsibilities to a new firm, which was approved by the Board of Directors following a vetting process.
Investor Verification Checklist
- Verify the engagement letter and scope of work with the new accountant, Farber Hass Hurley LLP.
- Review the letter from the former accountant, Robison, Hill & Co., attached as Exhibit 16.1, to confirm their concurrence with the Company's disclosures.
- Monitor upcoming financial filings to ensure the new auditor's report is consistent with prior periods.
- Confirm that the cessation of RHC's public company representation does not impact the Company's ability to access capital markets.