Tengjun Biotechnology Corp.: auditor change — Tengjun Biotechnology restates FY2022 financials; appoints interim CEO/CFO after death of prior officer

Tengjun Biotechnology Corp.

Board concludes FY2022 10-K financials should no longer be relied upon due to accounting methodology errors.
Auditor PWN LLP discovered discrepancies during Q2 review; errors include accounting policies and estimates.
Company to restate FY2022 financials; transition from manual to automated accounting system identified discrepancies.
Caihong Qu appointed as director, interim CEO and CFO effective August 10, 2023, replacing Xianchang Ma (deceased).
PWN LLP agrees with the company's statements in the Form 8-K/A filing.

item 4.02 item 5.02 item 9.01

Executive movements

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Appointed (interim)

Caihong Qu

Interim Chief Executive Officer and Chief Financial Officer and Director

Tengjun Biotechnology Corp.

Effective: 2023-08-10
Filed: September 21, 2023, 7:59 PM ET

On August 10, 2023, the Board resolved to appoint Ms. Caihong Qu as a member of the Board and the interim Chief Executive Officer and Chief Financial Officer of the Company

Departed

Xianchang Ma

Director, Chief Executive Officer and Chief Financial Officer

Tengjun Biotechnology Corp.

Effective: 2023-08-03
Successor: Caihong Qu
Filed: September 21, 2023, 7:59 PM ET

Ms. Qu is the late wife of Mr. Xianchang Ma, our previous Director, CEO and CFO, who passed away on August 3, 2023.

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Tengjun Biotechnology Corp. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

ear ended December 31, 2022, should no longer be relied upon due to accounting methodology errors in such financial statements and that the Board deems it advisable and in the best interests of the Company to restate the financial statements by amending its annual report

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Caihong Qu was appointed as Interim Chief Executive Officer and Chief Financial Officer and Director at Tengjun Biotechnology Corp..

Action: appointed
Role: Interim Chief Executive Officer and Chief Financial Officer and Director

Exact text from the filing

On August 10, 2023, the Board resolved to appoint Ms. Caihong Qu as a member of the Board and the interim Chief Executive Officer and Chief Financial Officer of the Company

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Xianchang Ma departed as Director, Chief Executive Officer and Chief Financial Officer at Tengjun Biotechnology Corp..

Action: passed away
Role: Director, Chief Executive Officer and Chief Financial Officer

Exact text from the filing

Ms. Qu is the late wife of Mr. Xianchang Ma, our previous Director, CEO and CFO, who passed away on August 3, 2023.

View on SEC.gov

8 auditor changes filed in the last 30 days. Browse all auditor changes →

Source: SEC EDGAR

accession 0001213900-23-078373

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