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VITALITY BIOPHARMA, INC.

(VBIO)
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VITALITY BIOPHARMA, INC. : Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits (form 8-K)

06/16/2021 | 04:07pm EDT

Item 4.01 Change in Registrant's Certifying Accountant.

(a) Former Independent Registered Public Accounting Firm

On June 10, 2021, Vitality Biopharma, Inc. (the "Company") dismissed Weinberg and Co., P.A. ("Weinberg") as the Company's independent registered public accounting firm. The Board of Directors of the Company approved the decision to dismiss Weinberg. The Company has authorized Weinberg to respond fully to the inquiries of the successor auditors.

During the two fiscal years ended March 31, 2021, and the subsequent interim periods through June 10, 2021, there were no: (1) disagreements (as described in Item 304(a)(1)(iv) of Regulation S-K) with Weinberg on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements if not resolved to their satisfaction would have caused them to make reference in connection with their opinion to the subject matter of the disagreement, or (2) reportable events (as described in Item 304(a)(1)(v) of Regulation S-K).

The audit reports of Weinberg on the Company's financial statements as of and for the years ended March 31, 2021 and 2020 did not contain an adverse opinion or a disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope or accounting principles.

The Company provided Weinberg with a copy of the foregoing disclosures and requested Weinberg to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above disclosures. A copy of the letter furnished pursuant to that request is filed as Exhibit 16.1 to this Current Report on Form 8-K.

(b) New Independent Registered Public Accounting Firm

On June 4, 2021, the Company's Audit Committee made a recommendation to the Company's Board of Directors to engage Meaden & Moore, Ltd. ("Meaden & Moore") as the Company's new independent registered public accounting firm, and the Board accepted that recommendation and authorized the Company to execute an engagement letter with Meaden & Moore. On June 10, 2021, the Company engaged Meaden & Moore as the Company's new independent registered public accounting firm, effective immediately. During the fiscal years ended March 31, 2021 and 2020, and through June 10, 2021, neither the Company nor anyone on its behalf consulted with Meaden & Moore regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's financial statements, and no written report or oral advice was provided to the Company by Meaden & Moore that was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue, or (ii) any matter that was the subject of a "disagreement" with its former auditors within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions or a "reportable event" within the meaning of Item 304(a)(1)(v) Regulation S-K.

Item 9.01 Financial Statements and Exhibits




Exhibit No.   Description

16.1            Letter from Weinberg and Co., P.A. to the Securities and Exchange
              Commission

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 - - -
Net income 2021 -0,88 M - -
Net cash 2021 0,85 M - -
P/E ratio 2021 -10,4x
Yield 2021 -
Capitalization 10,4 M 10,4 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 3
Free-Float 67,0%
Chart VITALITY BIOPHARMA, INC.
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Vitality Biopharma, Inc. Technical Analysis Chart | VBIO | US92849B1070 | MarketScreener
Income Statement Evolution
Managers and Directors
Michael Cavanaugh Chief Executive Officer & Director
Richard McKilligan Controller, Chief Financial & Accounting Officer
Edward F. Feighan Executive Chairman
Brandon Zipp Chief Science Officer
Richard F. Celeste Independent Director
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