Regen BioPharma Inc (RGBP): auditor change — Regen Biopharma restates FY2024 financials; prior statements not reliable

Regen BioPharma Inc

Non-reliance on unaudited FY2024 financials filed Nov 20, 2024; share compensation and derivative liability corrected.
Derivative liability increased by $6,816; total liabilities restated to $5.38M.
Net loss restated from $809,255 to $668,255, improvement of $198,995.
Prepaid assets reduced by $16,527; total assets restated to $161,084.
Additional paid-in capital decreased by $17,492; AOCI shows negative $204,847 from reclassification.

item 4.02

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

Regen BioPharma Inc reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

ALANCE SHEETS Originally Presented Restated As of September 30, 2024 Adjustments As of September 30, 2024 ASSETS Current Assets Cash $ 716 - $ 716 Accounts Receivable, Related Party 94,873 - 94,873 Prepaid Assets 64,289 (16,527 ) 47,762 Total Current Assets 159,878 (16,527 ) 143,351 Other Assets Investment Securities, Related Party 17,733 - 17,733 Total Other Assets 17,733 - 17,733 TOTAL ASSETS $ 177,611 (16,527 ) $ 161,084 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Accounts payable 29,669 - 29,669 Accrued Expenses 1,664,827 - 1,664,827 Notes Payable 293,819 - 293,819 Unearned Income 1,465,171 - 1,465,171 Unearned Income ( Related Party) - - - Derivative Liability 1,397,274 6,816 1,404,090 Convertible Notes Payable Less unamortized discount 499,880 - 499,880 Convertible Notes Payable, Related Parties Less unamortized discount - - - Other Current Liabilities 21,000 - 21

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Source: SEC EDGAR

accession 0001641172-25-009967

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