---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-021877"
form_type: "8-K"
ticker: "CNTN"
cik: "0001861657"
company_name: "Canton Strategic Holdings, Inc."
filed_at: "2023-06-20T23:59:59+00:00"
generated_at: "2026-06-13T21:50:52.979391+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Hillstream BioPharma auditor MHM resigns; going concern and material weaknesses cited

## Summary
- MHM resigned June 14, 2023; effective upon new auditor, 10-Q filing, or August 19, 2023.
- 2022 audit report included going-concern explanatory paragraph; 2021 report had no qualifications.
- Company restated 2022 annual and Q1-Q3 2022 unaudited financials (reported May 22, 2023).
- Material weaknesses identified: vendor invoice controls, contract review, segregation of duties, accounting expertise.
- No disagreements with MHM; company launching competitive selection for new auditor.

## SEC filing metadata
- accession: 0001493152-23-021877
- form_type: 8-K
- ticker: CNTN
- cik: 0001861657
- company_name: Canton Strategic Holdings, Inc.
- filed_at: 2023-06-20T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 4.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1861657/000149315223021877/0001493152-23-021877-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1861657/000149315223021877/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-021877
- JSON: https://secwatch.observer/filing/0001493152-23-021877.json
- Plain text: https://secwatch.observer/filing/0001493152-23-021877.txt

## Key facts
- Auditor Changes
  Mayer Hoffman McCann P.C. resigned as auditor of Canton Strategic Holdings, Inc..
  - Action: resignation
  - Auditor: Mayer Hoffman McCann P.C.
  source text: On June 14, 2023, Mayer Hoffman McCann P.C. ("MHM"), the independent registered public accounting firm of Hillstream BioPharma, Inc. (the "Company"), provided the Company notice of its resignation as the Company's independent registered public accounting firm effective as of the earlier of: (i) the date the Company appoints a new independent registered public accounting firm; (ii) the date the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 is filed with the Securities and Exchange Commission ("SEC"); and (iii) August 19, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861657/000149315223021877/0001493152-23-021877-index.htm
- Auditor Changes
  Canton Strategic Holdings, Inc. reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: the Company, after discussion with its audit committee concluded that its previously issued audited financial statements for the year ended December 31, 2022 and unaudited financial statements for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022 should be restated and no longer be relied upon
  evidence_url: https://www.sec.gov/Archives/edgar/data/1861657/000149315223021877/0001493152-23-021877-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.