Business Context and Reporting Period
This Form 8-K Current Report from Biorestorative Therapies, Inc. (BRTX) covers events occurring between August 26, 2026, and September 1, 2026. The filing details significant corporate governance changes, including the dismissal of the independent registered public accounting firm and a complete transition of the company's interim executive leadership team.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, or debt figures for the current period. However, it notes that the prior independent auditor, CBIZ CPAs P.C., issued a report for the fiscal year ended December 31, 2025, that included an explanatory paragraph expressing substantial doubt about the Company's ability to continue as a going concern. No other financial metrics are disclosed in this document.
Material Changes
- Accounting Firm Change: CBIZ CPAs P.C. was dismissed effective August 28, 2026, after serving since April 2025. Bush & Associates CPA was engaged as the new independent registered public accounting firm for the fiscal year ending December 31, 2026.
- Executive Departure: Katharyn Field stepped down as Interim CEO, CFO, Treasurer, and Secretary, and resigned from the Board. Her departure was not due to any disagreement with the Company.
- Executive Appointments: Mika Grasso was appointed Interim CEO effective August 26, 2026. Anna Skowron was appointed CFO and Treasurer effective August 27, 2026, serving on a fractional, non-employee basis.
- Board Restructuring: Steven Brown was appointed Chairman of the Board and Chair of the Audit Committee. The standing committees were reconstituted to reflect the new leadership.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, revenue outlook, or management commentary regarding future business performance. The primary risk highlighted is the "substantial doubt about the Company's ability to continue as a going concern" noted in the previous auditor's report for the fiscal year ended December 31, 2025. The appointment of new interim leadership and a new auditor suggests an ongoing effort to stabilize corporate governance and financial reporting.
Investor Verification Checklist
- Verify the content of the letter from CBIZ CPAs P.C. (Exhibit 16.1) to confirm there are no undisclosed disagreements regarding accounting principles or audit scope.
- Review the specific terms of the consulting agreements for Mika Grasso ($10,000/month) and Anna Skowron ($12,000/month) to understand ongoing cash burn related to executive compensation.
- Confirm the status of the "going concern" qualification in the upcoming financial statements prepared by the new auditor, Bush & Associates CPA.
- Monitor the Board's progress in appointing a permanent CEO and CFO, as the current appointments are interim or fractional.