Business Context and Reporting Period
Company: PharmaCyte Biotech, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: October 29, 2015
Reporting Period: The filing addresses events occurring on October 29, 2015, and references the fiscal year ended April 30, 2015, and the interim period through October 29, 2015.
Key Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The primary material change disclosed is the replacement of the Company's principal accountant:
- Dismissed Accountant: Farber Hass Hurley LLP ("FHH") was dismissed on October 29, 2015.
- Engaged Accountant: Armanino LLP ("Armanino") was engaged on October 30, 2015.
- Reason for Change: The Board of Directors approved the change. The Company explicitly states the dismissal did not result from dissatisfaction with the quality of professional services rendered by FHH.
- Audit History: FHH's report for the fiscal year ended April 30, 2015, was unqualified (no adverse opinion, disclaimer, or modification regarding uncertainty, scope, or principles).
- Disagreements: No disagreements occurred between the Company and FHH regarding accounting principles, practices, disclosures, or audit scope during the fiscal year ended April 30, 2015, or the subsequent interim period.
- Reportable Events: No "reportable events" as defined by Regulation S-K Item 304(a)(1)(v) occurred during the relevant periods.
Guidance, Outlook, and Risks
Consultation with New Accountant: The Company confirms that neither it nor anyone on its behalf consulted Armanino regarding accounting principles, audit opinions, or reportable events during the fiscal years ended April 30, 2015 and 2014, or the interim period through October 30, 2015.
Risks and Contingencies: The filing does not disclose new risks, contingencies, or unusual items beyond the standard disclosure requirements for an accountant change.
Investor Verification Checklist
- Verify the letter from Farber Hass Hurley LLP (Exhibit 16.1) to confirm their concurrence with the Company's statements regarding the lack of disagreements.
- Review the Company's most recent 10-K or 10-Q to assess financial health, as this 8-K contains no financial metrics.
- Monitor future filings to ensure the transition to Armanino LLP proceeds without qualification or delay in financial reporting.