Business Context and Reporting Period
This Form 8-K was filed by Nuvilex, Inc. (noted as Pharmacyte Biotech, Inc. in metadata) on February 9, 2012. The report addresses a change in the company's independent certifying accountant. The company is preparing to complete the acquisition of the assets of SG Austria.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the administrative change of auditors.
Material Changes
- Outgoing Auditor: M & K CPAS, PLLC was dismissed as the independent auditor effective February 9, 2012.
- Incoming Auditor: ROBISON, HILL & COMPANY was engaged on February 10, 2012, to audit financial statements and perform interim reviews.
- Audit History: Reports for fiscal years ended April 30, 2011 and 2010 contained no adverse opinions, disclaimers, or qualifications. There were no disagreements with the former auditor regarding accounting principles or reportable events.
Guidance, Outlook, and Risks
Management indicated the auditor change is concurrent with the preparation to acquire SG Austria assets. The company confirmed no consultations occurred with the new auditor regarding accounting principles or potential disagreements prior to engagement. No specific financial guidance or risk factors were disclosed in this filing.
Investor Verification Checklist
- Verify the status and timeline of the pending acquisition of SG Austria assets.
- Review the letter from M & K CPAS, PLLC (Exhibit 16.1) for any additional context on the departure.
- Confirm the company's current financial position in the most recent 10-K or 10-Q, as this 8-K contains no financial data.