Goldenwell Biotech Inc.

01/23/2025 | Press release | Distributed by Public on 01/23/2025 16:20

Change in Certifying Accountants (Form 8-K)

Item 4.01 Changes in Registrant's Certifying Accountant

(a) On January 23, 2025, Goldenwell Biotech, Inc. (the "Company") notified Michael Gillespie & Associates, PLLC ("Michael Gillespie & Associates") that the Company had dismissed Michael Gillespie & Associates as the independent registered public accounting firm of the Company. The Board of Directors of the Company recommended and approved the dismissal.

Michael Gillespie & Associates most recently served as the Company's independent registered public accounting firm from November 14, 2024, until January 23, 2025, and reviewed financial statements contained in one Quarterly Report on Form 10-Q, such Form 10-Q being for the fiscal quarter ended September 30, 2024.

Michael Gillespie & Associates did not make or otherwise provide any reports regarding the Company's financial statements as of December 31, 2024 and 2023, or the related consolidated statements of operations and comprehensive loss, consolidated statements of changes in stockholders' equity, or consolidated statements of cash flows for the years then ended.

During the period of engagement, from November 14, 2024, through the date of dismissal on January 23, 2025, the Company had no disagreement with Michael Gillespie & Associates on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. There were no reportable events, as listed in Item 304(a)(1)(v) of Regulation S-K.

The Company provided Michael Gillespie & Associates a copy of the above disclosures and requested Michael Gillespie & Associates to furnish a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. Michael Gillespie & Associates's response is attached as Exhibit 16.1 to this Current Report on Form 8-K.

(b) On January 23, 2025, the board of directors of the Company resolved to engage the independent registered public accounting firm KCCW Accountancy Corp. ("KCCW"), as the Company's new independent registered public accountants, which appointment KCCW has accepted.

During the two most recent fiscal years and the interim period preceding the engagement of Michael Gillespie & Associates, the Company has not consulted with KCCW regarding either: (i) the application of accounting principles, (ii) the type of audit opinion that might be rendered by KCCW or (iii) any other matter that was the subject of disagreement between the Company and its former auditor as described in Item 304(a)(1)(iv), or a reportable event as described in paragraph 304(a)(1)(v), of Regulation S-K. The Company did not have any disagreements with Michael Gillespie & Associates and therefore did not discuss any past disagreements with KCCW.