8-K: BioForce NanoSciences Holdings Replaces Independent Auditor

BioForce NanoSciences Holdings has replaced BF Borgers CPA PC with Michael Gillespie & Associates, PLLC as its independent registered public accounting firm, effective May 7, 2024.

Summary

• BioForce NanoSciences Holdings, Inc. has changed its independent registered public accounting firm.
• The company replaced BF Borgers CPA PC with Michael Gillespie & Associates, PLLC, effective May 7, 2024.
• BF Borgers' audit reports for the fiscal years ended December 31, 2023, and December 31, 2022, did not contain any adverse opinions, disclaimers, qualifications, or modifications.
• There were no disagreements between the company and BF Borgers on accounting principles, financial statement disclosure, or auditing scope during the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period.
• There were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K during the fiscal years ended December 31, 2023 and 2022, and the subsequent interim period.

Sentiment

Score: 7

Explanation: The document indicates a routine change of auditors with no negative implications. The lack of disagreements and clean audit reports from the previous auditor are positive signs.

Positives

• The change in auditors was not due to any disagreements on accounting or auditing matters.
• The previous auditor's reports were clean, indicating no issues with the company's financial statements.

Risks

• A change in auditors can sometimes raise concerns among investors, although this change appears to be amicable.

Management Comments

• Richard Kaiser, Chief Financial Officer, signed the report on behalf of the company.

Industry Context

Changes in auditors are not uncommon, but they are always closely scrutinized by investors and regulators. This change appears to be a routine transition rather than a response to any issues.

Comparison to Industry Standards

• The change of auditors is a common practice in the industry, and the lack of disagreements suggests a smooth transition.
• Many companies change auditors periodically for various reasons, including cost, expertise, or rotation policies.
• The fact that the previous audits were clean is consistent with industry standards for companies that maintain proper financial controls.

Stakeholder Impact

• Shareholders may want to monitor the new auditor's reports for any changes in assessment of the company's financial health.
• The change in auditors is not expected to have a significant impact on employees, customers, or suppliers.

Key Dates

Keywords

auditor, accounting, financial statements, BF Borgers, Michael Gillespie & Associates, audit, BioForce NanoSciences