Business Context and Reporting Period
This Form 8-K is a current report filed by Klotho Neurosciences, Inc. (not Greenland Mines Ltd) on October 26, 2024. The registrant is a Delaware corporation with principal executive offices in Omaha, NE. The filing addresses Item 4.01 regarding changes in the registrant's certifying accountant.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity for the current period. However, it notes that the former auditor, Yusufali & Associates, LLC, issued reports for the years ended December 31, 2023, and 2022, which included a statement of substantial doubt about the Company's ability to continue as a going concern.
Material Changes
- Termination of Auditor: On October 26, 2024, the Company terminated its engagement with Yusufali & Associates, LLC. The dismissal was mandated because the firm was disqualified by the Public Company Accounting Oversight Board (PCAOB).
- Appointment of New Auditor: On October 28, 2024, the Board of Directors resolved to engage BCRG Group as the new independent registered public accounting firm.
- Audit History: There were no disagreements with the former auditor regarding accounting principles or practices. The former auditor's reports contained no adverse opinions or disclaimers, aside from the going concern qualification.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the historical going concern warning noted in prior audit reports. The primary contingency is the transition of audit services and the pending response letter from the former auditor, which will be filed in an amendment to this report.
Investor Verification Checklist
- Verify the reason for the PCAOB disqualification of Yusufali & Associates, LLC.
- Review the upcoming amendment to this 8-K for the former auditor's response letter.
- Confirm the Company's current liquidity status given the historical "substantial doubt" regarding going concern.
- Monitor the engagement timeline and scope of the new auditor, BCRG Group.