MILESTONE SCIENTIFIC INC. 8-K

What Happened

• Milestone Scientific Inc. announced in an 8‑K that its Audit Committee approved the dismissal of CBIZ CPAs P.C. as the company's independent registered public accounting firm effective May 15, 2026, and engaged Grassi & Co., CPAs, P.C. as the new independent auditor (engagement agreement dated April 30, 2026).
• CBIZ CPAs became the company’s auditor in April 2025 (after acquisition of Marcum LLP’s attest business). CBIZ’s report on the consolidated financial statements for the year ended December 31, 2025 included an explanatory paragraph noting substantial doubt about the company’s ability to continue as a going concern. The company reports no disagreements or “reportable events” with CBIZ through April 30, 2026, and has requested a letter from CBIZ confirming its views (filed as Exhibit 16.1).

Key Details

• Dismissal effective date: May 15, 2026. Engagement agreement with Grassi dated April 30, 2026.
• CBIZ’s 2025 audit report included a going concern explanatory paragraph for the year ended December 31, 2025.
• CBIZ became auditor in April 2025 and did not audit the 2024 financial statements.
• The Audit Committee approved both the dismissal and the engagement; no disagreements or reportable events were identified through April 30, 2026.

Why It Matters

• Auditor changes are material corporate events: investors should note the replacement of CBIZ with Grassi may affect future audit procedures, timing, and disclosures.
• The prior auditor’s 2025 going concern disclosure signals financial challenges reported by management; the change of auditor does not alter that fact but is a development investors should monitor alongside forthcoming audited financial statements and management updates.
• The filing states there were no unresolved disputes with the outgoing auditor, which suggests an orderly transition rather than a contested separation.