Business Context and Reporting Period
This Form 8-K filing by Bone Biologics Corp. (Delaware) reports a change in the registrant's certifying accountant. The report date is December 6, 2017, with the earliest event reported on the same date. The company is classified as an emerging growth company.
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 references prior audit reports for the years ended December 31, 2015, and 2016, which indicated substantial doubt regarding the company's ability to continue as a going concern due to its dependence on securing additional financing.
Material Changes
- Dismissal of Accountant: Anton & Chia, LLP was dismissed as the independent accountant effective December 6, 2017. The Board of Directors approved this dismissal on July 14, 2017.
- Engagement of New Accountant: Weinberg & Company, P.A. was engaged as the new independent accountant effective December 7, 2017. This engagement was also approved by the Board on July 14, 2017.
- Audit History: The reports for 2015 and 2016 did not contain adverse opinions or disclaimers, but they included a going concern qualification. There were no disagreements with the former accountant regarding accounting principles, practices, or audit scope.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the previously noted going concern uncertainty. The primary risk highlighted in the context of the accountant change is the company's historical reliance on securing additional financing to maintain operations.
Investor Verification Checklist
- Verify the reasons for the dismissal of Anton & Chia, LLP, as no disagreements were reported.
- Confirm the status of the company's current financing efforts given the historical "substantial doubt" regarding going concern status.
- Review the engagement letter and scope of work for the new auditor, Weinberg & Company, P.A.
- Check for any subsequent filings regarding the company's liquidity position or capital raising activities.