CytoDyn Inc. Dismisses Auditor Malone Bailey LLP
Ticker: CYDY · Form: 8-K · Filed: May 6, 2024 · CIK: 1175680
| Field | Detail |
|---|---|
| Company | Cytodyn Inc. (CYDY) |
| Form Type | 8-K |
| Filed Date | May 6, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: auditor-change, accounting
Related Tickers: CYDY
TL;DR
CytoDyn fired its auditor, Malone Bailey LLP, on May 6th. No replacement named yet.
AI Summary
CytoDyn Inc. announced on May 6, 2024, that it has dismissed its independent registered public accounting firm, MaloneBailey LLP. The company has not yet appointed a new independent auditor.
Why It Matters
The dismissal of an auditor can raise concerns about financial reporting and may signal underlying issues within the company's financial operations.
Risk Assessment
Risk Level: medium — Changing auditors can sometimes indicate disagreements or issues with financial reporting, which could pose a risk to investors.
Key Players & Entities
- CytoDyn Inc. (company) — Registrant
- Malone Bailey LLP (company) — Dismissed independent registered public accounting firm
- May 6, 2024 (date) — Date of dismissal
FAQ
When was Malone Bailey LLP dismissed as CytoDyn Inc.'s independent registered public accounting firm?
Malone Bailey LLP was dismissed on May 6, 2024.
Did CytoDyn Inc. consult with its audit committee or board of directors before dismissing Malone Bailey LLP?
The filing states that the decision to dismiss Malone Bailey LLP was approved by the audit committee of the Board of Directors.
Were there any disagreements between CytoDyn Inc. and Malone Bailey LLP that led to the dismissal?
The filing explicitly states that there were no disagreements between CytoDyn Inc. and Malone Bailey LLP.
Has CytoDyn Inc. appointed a new independent registered public accounting firm?
No, as of the filing date, CytoDyn Inc. has not yet appointed a new independent registered public accounting firm.
Will Malone Bailey LLP provide any services to CytoDyn Inc. following their dismissal?
The filing does not specify any ongoing services to be provided by Malone Bailey LLP after their dismissal.
Filing Stats: 605 words · 2 min read · ~2 pages · Grade level 13.5 · Accepted 2024-05-06 17:09:58
Filing Documents
- cydy-20240506x8k.htm (8-K) — 32KB
- 0001558370-24-006814.txt ( ) — 158KB
- cydy-20240506.xsd (EX-101.SCH) — 3KB
- cydy-20240506_lab.xml (EX-101.LAB) — 17KB
- cydy-20240506_pre.xml (EX-101.PRE) — 12KB
- cydy-20240506x8k_htm.xml (XML) — 4KB
01. Changes in Registrant's Certifying Accountant
Item 4.01. Changes in Registrant's Certifying Accountant. On May 6, 2024, CytoDyn Inc. (the "Company"), at the direction of the Audit Committee of the Company's Board of Directors (the "Audit Committee"), dismissed BF Borgers CPA PC ("BF Borgers") as the Company's independent registered public accounting firm. The Company promptly took action to dismiss BF Borgers following the entry of an order by the Securities and Exchange Commission (the "SEC") on May 3, 2024, that permanently bars BF Borgers and its principal from appearing or practicing before the SEC. The Audit Committee has commenced a search for a replacement independent registered public accounting firm to perform the Company's audit for the fiscal year ending May 31, 2024, and will announce its selection when made. BF Borgers, which was engaged as the Company's independent auditor only from October 5, 2023 to May 3, 2024, did not perform an audit of the Company's financial statements during its engagement and consequently, did not issue an adverse or qualified opinion or disclaimer of opinion with respect to the Company's audited financial statements. There were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K), between the Company and BF Borgers on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure during its engagement. There also were no "reportable events" under Item 304(a)(1)(v) of Regulation S-K that occurred or were identified during the period from October 5, 2023, through May 3, 2024. As BF Borgers is not currently permitted to appear or practice before the SEC, a letter from BF Borgers stating whether it agrees with the above disclosures has not been included in this report. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CYTODYN INC. Date: May 6, 2024 By /s/