CannaPharmaRX, Inc. Announces Change in Certifying Accountant

CannaPharmaRX, Inc. (OTCMKTS:CPMD) recently filed a Form 8-K with the Securities and Exchange Commission, reporting a change in its certifying accountant. Effective November 14, 2024, the company’s auditor, GreenGrowth CPAs, resigned from its role. GreenGrowth had been serving as CannaPharmaRX’s independent registered public accounting firm since 2023.

The 8-K filing stated that during GreenGrowth’s engagement, there were no disagreements between the company and the auditor concerning accounting principles, financial disclosures, or auditing procedures that would have led to a reference in the auditor’s opinion. Additionally, there were no reportable events as described in Regulation S-K.

GreenGrowth’s report on CannaPharmaRX’s financial statements for the fiscal year ending December 31, 2023, which was included in the company’s Annual Report on Form 10-K, did not contain an adverse opinion, a disclaimer of opinion, or any qualifications. However, the report did include an explanatory paragraph highlighting the company’s ability to continue as a going concern due to recurring losses, a significant accumulated deficit, and consistent negative cash flows.

The company provided GreenGrowth with the relevant disclosures before filing the Form 8-K and requested a letter from the auditor addressing whether it agreed with the statements made in the filing. A copy of GreenGrowth’s letter, dated November 14, 2024, affirming its agreement with the statements was attached as Exhibit 9.01 to the filing.

CannaPharmaRX is now in the process of obtaining quotes for engaging a new independent registered public accounting firm. A subsequent Form 8-K filing will be made once the new auditor has been engaged.

The company’s Chairman, Rick Orman, signed off the report on November 20, 2024. Green Growth CPAs also provided a letter dated November 20, 2024, agreeing with the statements concerning their firm as presented in the filing.

This latest development marks a significant change for CannaPharmaRX and highlights its commitment to maintaining transparent financial reporting practices. Investors and stakeholders will be keenly observing the selection of the new independent accounting firm.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read CannaPharmaRX’s 8K filing here.

CannaPharmaRX Company Profile

CannaPharmaRX, Inc operates in the cannabis industry in Canada. It evaluates, negotiates, acquires, and develops various cannabis cultivation projects. The company was incorporated in 1998 and is based in Calgary, Canada.