GOLDENWELL BIOTECH, INC. Changes Independent Auditor to Privatco

What Happened

• GOLDENWELL BIOTECH, INC. (GWLL) filed an 8-K on September 29, 2026 reporting it dismissed Michael Gillespie & Associates, PLLC as its independent registered public accounting firm and the board approved the dismissal.
• The company also disclosed that on September 22, 2026 the board resolved to engage Privatco CPA Limited as GWLL’s new independent registered public accountants, and Privatco accepted the engagement.
• Gillespie & Associates’ audit reports for the years ended December 31, 2025 and 2024 contained no adverse opinion or disclaimer and were not qualified or modified for scope or accounting principle, but did state there was substantial doubt about the Company’s ability to continue as a going concern.

Key Details

• Filing date: Form 8-K filed September 29, 2026.
• New auditor engagement date: Board resolved to engage Privatco on September 22, 2026.
• Prior auditor’s reports covered years ended December 31, 2025 and 2024 and included a going-concern note.
• The company reported no disagreements with Michael Gillespie & Associates for 2025, 2024 or the interim period and no reportable events under Item 304(a)(1)(v); a response from Gillespie & Associates is attached as Exhibit 16.1.

Why It Matters

• A change in independent auditor is a material corporate action investors track because it can affect audit continuity and confidence in financial reporting.
• Here, the change was not due to audit disagreements—GWLL reported no disputes with the former auditor—however, the prior audits did include a going-concern statement, which remains an important disclosure about the company’s financial health.
• Investors should note the new auditor (Privatco) has not previously been consulted on GWLL’s accounting or audit matters during the past two fiscal years, and may lead to differences in future audit approach or disclosures.