Regencell Bioscience Holdings Limited — Form 6-K Summary
Business context and reporting period
This Form 6-K, dated March 17, 2023, reports a change in the Company’s independent registered public accounting firm. The filing covers the month of March 2023 and relates to Regencell Bioscience Holdings Limited, a foreign private issuer that files annual reports on Form 20-F.
Financial metrics and liquidity
The filing does not provide current-period revenue, profit, cash flow, margins, debt, liquidity, or other operating metrics.
Material changes versus the prior comparable period
- Friedman LLP notified the Company that it combined with Marcum LLP effective September 1, 2022.
- On February 16, 2023, the Company engaged Marcum Asia CPAs LLP as its independent registered public accounting firm. Services previously provided by Friedman will be provided by Marcum Asia.
- Friedman’s audit reports for the fiscal years ended June 30, 2022 and 2021 contained no adverse opinion, disclaimer, or qualification relating to uncertainty, audit scope, or accounting principles.
Management commentary, risks, and unusual items
- The Company reported no disagreements with Friedman during the two most recent fiscal years and through February 16, 2023, regarding accounting principles, financial statement disclosure, or audit scope or procedures.
- No reportable events were identified during that period, except for material weaknesses previously reported by management in Item 15 of the Company’s Form 20-F filed October 31, 2022.
- The Company stated that neither it nor anyone acting on its behalf consulted Marcum Asia during the relevant period regarding the specified accounting or reportable-event matters.
- Friedman’s response letter to the SEC regarding the Company’s disclosure is filed as Exhibit 16.1.
Key facts investors should verify
- Review the Company’s Form 20-F filed October 31, 2022 for details of the reported material weaknesses.
- Review Exhibit 16.1 for Friedman’s letter and confirmation of its position regarding the auditor-change disclosure.
- Confirm the scope and status of Marcum Asia’s engagement and any subsequent audit or internal-control developments.