other material
confidence high
sentiment neutral
materiality 0.60
BioRestorative exchanges preferred shares with Auctus, replaces auditor after Friedman/Marcum merger
BioRestorative Therapies, Inc.
- Issued 1,543,158 Series B preferred shares to Auctus Fund in exchange for same number of Series A shares on Sept 8, 2022.
- Series B preferred stock raises beneficial ownership limitation to 9.99% of common stock (up from 4.99% for Series A).
- Audit Committee dismissed Friedman LLP and engaged Marcum LLP as independent auditor on Sept 13, 2022, following Friedman's combination with Marcum.
- Friedman's reports for FY2020 and FY2021 were unqualified with no disagreements or reportable events.