Goldenwell Biotech, Inc.

GWLL: 8-K · auditor change

Goldenwell Biotech dismissed its auditor Michael Gillespie & Associates on September 27, 2026, and the board approved the dismissal, with the former auditor confirming agreement with the company's disclosures. The Gillespie reports on fiscal 2025 and 2024 financial statements carried no adverse or qualified opinions, but did state there is substantial doubt about Goldenwell's ability to continue as a going concern. On September 22, 2026, the board engaged Privatco CPA Limited as the new auditor, and the company reported no disagreements or reportable events during the transition.

SEC 8-K•27d ago

GWLL: 10-Q · periodic report

Goldenwell Biotech's 10-Q for the quarter ended June 30, 2026 carries explicit going-concern doubt: the development-stage supplements company reported zero revenue, only $11,143 in cash, and a stockholders' deficit of $398,195 against $1,710,598 in accumulated losses since inception. The filing also discloses a material prior-period restatement: after its auditor flagged errors in revenue recognition, legal-expense timing, and OTCQB fee classification, the restated Q2 2025 net loss widened from $5,220 to $30,300, and management concluded its disclosure controls and procedures were not effective as of June 30, 2026. Operations are being sustained almost entirely by the CEO: Shuang Liu has lent the company $140,588 in total, while all inventory ($174,745 of Goldenwell DNA Repair supplement stock) was fully written off after expiring in January 2026. Management says it needs roughly $5 million to build manufacturing and begin selling products, and warns that in the absence of such financing the business will fail — meaning further dilutive equity raises or insolvency are the likely paths ahead.

SEC 10-Q•2mo ago

GWLL: 10-K · periodic report

Goldenwell Biotech, Inc. disclosed significant going concern risks in its fiscal year 2025 10-K, reporting minimal operations with total revenue of just $55 for the year. The company recorded a net loss of $296,471 and an accumulated deficit of $1,656,117, citing that its continuation is dependent on raising capital to fund its business plan. Management stated they need approximately $5,000,000 to construct manufacturing facilities and launch commercial sales of their licensed nutraceutical products. As of December 31, 2025, the company held only $26,775 in cash and faced a working capital deficit of $343,713, with no financing arrangements currently in place. The company operates without physical operations, utilizing a mail drop address in Solon, Ohio, and holds license agreements for products like Sugar Master and DNA Repair. A key license agreement with Australian Trefoil Health Technologies expired in November 2025, further complicating the path to commercialization.

SEC 10-K•3mo ago

GWLL: 10-Q/A · restatement

Goldenwell Biotech filed Amendment No. 1 to its Form 10-Q for the period ended September 30, 2025, to restate its financial statements after determining that previously issued results could no longer be relied upon. The restatement corrects material errors identified by the company's auditor, including the improper recognition of $25,000 in service revenue and the misclassification of a $13,350 prepaid fee. The corrections increased the net loss for the quarter to $(27,895) and left the company with a stockholders' equity deficit of $(143,974). Management disclosed substantial doubt about the company's ability to continue as a going concern, citing accumulated losses of $1.46 million and the need to raise approximately $5 million to complete manufacturing facilities. Additionally, the company reported that its disclosure controls and procedures were not effective as of the end of the reporting period. Goldenwell Biotech currently has no financing arrangements in place to fund its planned operations, which are necessary to generate future revenue.

SEC 10-Q/A•3mo ago

GWLL: 10-Q/A · restatement

Goldenwell Biotech filed an amended Form 10-Q for the quarter ended March 31, 2025, to correct a material accounting error discovered by its independent auditor. The restatement addresses the improper recording of a legal invoice, which should have been accrued in the period the services were performed rather than upon receipt. As a result of the correction, the company's net loss for the quarter increased to $38,536 from the originally reported $34,376, with accrued legal fees rising by $4,160. The company reported zero revenue for the period and ended the quarter with only $17,127 in cash. Management reiterated substantial doubt about the company's ability to continue as a going concern, citing an accumulated net loss of $1.4 million and insufficient capital to fund operations. Additionally, the company acknowledged that its disclosure controls and procedures were not effective as of the reporting period.

SEC 10-Q/A•4mo ago

GWLL: 8-K · restatement

Goldenwell Biotech, Inc. announced that its financial statements for the first three quarters of 2025 can no longer be relied upon due to material accounting errors identified by its auditor. The company failed to properly accrue $9,840 in legal fees and misapplied revenue recognition criteria for a service contract, requiring a restatement of its Q1, Q2, and Q3 2025 10-Q filings. The auditor, Michael Gillespie & Associates, PLLC, confirmed the errors, noting that legal expenses should have been recorded in the quarters services were performed rather than when the invoice was received. Additionally, the company misclassified prepaid fees to OTC Markets Group, Inc., which should have been deferred and amortized. This disclosure under Item 4.02 signals significant weaknesses in internal controls over financial reporting. Investors should view the upcoming restatements as a bearish indicator of governance and accounting reliability, potentially impacting the company's credibility with regulators and future financing efforts.

SEC 8-K•5mo ago

GWLL: NT 10-Q · late filing

Goldenwell Biotech, Inc. has been unable to timely compile all information for the financial statements and related disclosures required for its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026. The company expects to file the report on or before May 19, 2026. The company has also not filed its Annual Report Form 10-K for the fiscal year ended March 31, 2026. This indicates significant internal control or accounting issues, which are often associated with financial distress. Goldenwell Biotech, Inc. does not anticipate any significant change in results of operations from the corresponding period for the last fiscal year.

SEC NT 10-Q•5mo ago