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Q/C Technologies (NASDAQ: QCLS) changes auditors amid going concern note

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Q/C Technologies, Inc. reported that its Audit Committee dismissed Stephano Slack LLC as its independent registered public accounting firm on March 9, 2026, and appointed Grassi & Co., CPAs, P.C. as the new auditor for the year ended December 31, 2025.

The prior auditor’s reports for 2023 and 2024 contained a going concern paragraph noting net loss and negative operating cash flows for 2024 that raised substantial doubt about the Company’s ability to continue as a going concern, with no related adjustments recorded. The Company states there were no disagreements or reportable events with Stephano Slack, and it has obtained a letter from the former auditor addressed to the SEC agreeing with these disclosures.

Positive

  • None.

Negative

  • Auditor’s going concern paragraph highlights financial strain – Stephano Slack’s reports for 2023 and 2024 cite net loss and negative operating cash flows for 2024 that raise substantial doubt about Q/C Technologies’ ability to continue as a going concern, with no related adjustments recorded.

Insights

Auditor change disclosed alongside reiterated going concern doubts.

Q/C Technologies replaced Stephano Slack LLC with Grassi & Co. as its independent auditor, with the change approved by the Audit Committee on March 9, 2026. The company reports no disagreements or reportable events with the outgoing firm.

However, Stephano Slack’s reports for the years ended December 31, 2023 and December 31, 2024 included a going concern paragraph citing a net loss and negative operating cash flows in 2024 that raise substantial doubt about the company’s ability to continue as a going concern. The financial statements also do not include adjustments that might result from this uncertainty.

The company notes that neither it nor its representatives consulted Grassi on accounting principles, specific transactions, or anticipated audit opinions before the engagement, and obtained a letter from Stephano Slack dated March 11, 2026 confirming agreement with the described circumstances. The key financial risk factor remains the previously disclosed going concern uncertainty.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): March 9, 2026

 

Q/C Technologies, Inc.

(Exact name of Registrant as specified in its charter)

 

Delaware   001-36268   22-2983783
(State or other jurisdiction
of incorporation)
  (Commission
File No.)
  (IRS Employer
Identification No.)

 

1185 Avenue of the Americas, Suite 249    
New York, NY   10036
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (856) 848-8698

 

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities Registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common stock, par value $0.001 per share   QCLS   The Nasdaq Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 4.01 Changes in Registrant’s Certifying Accountant.

 

(a) Dismissal of Independent Registered Public Accounting Firm

 

On March 9, 2026, the Audit Committee of the Board of Directors (the “Committee”) of Q/C Technologies, Inc. (the “Company”) approved the dismissal of Stephano Slack LLC (“Stephano Slack”) as the Company’s independent registered public accounting firm, effective as of the same date.

 

The reports of Stephano Slack on the Company’s consolidated financial statements for the fiscal years ended December 31, 2024 and December 31, 2023, did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles, except as follows: Stephano Slack’s report on the consolidated financial statements of the Company as of December 31, 2024 and 2023 and for each of the years then ended, contained a separate paragraph stating, “The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the consolidated financial statements, the Company has experienced a net loss and negative cash flows from operations for the year ended December 31, 2024, which raises substantial doubt about their ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 3. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.”

 

From October 3, 2023, through March 9, 2026, the date of Stephano Slack’s dismissal, there were (a) no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions) between the Company and Stephano Slack on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of Stephano Slack, would have caused Stephano Slack to make reference to such disagreement in its reports, if such reports had been issued, and (b) no “reportable events” (as defined in Item 304(a)(1)(v) of Regulation S-K and the related instructions).

 

The Company provided Stephano Slack with a copy of this Current Report on Form 8-K prior to its filing with the U.S. Securities and Exchange Commission (the “SEC”) and requested that Stephano Slack furnish the Company with a letter addressed to the SEC, pursuant to Item 304(a)(3) of Regulation S-K, stating whether it agrees with the above statements and, if it does not agree, the respects in which it does not agree. A copy of the letter, dated March 11, 2026, is filed as Exhibit 16.1 (which is incorporated by reference herein) to this Current Report on Form 8-K.

 

(b) Appointment of New Independent Registered Public Accounting Firm

 

On March 9, 2026, the Committee engaged Grassi & Co., CPAs, P.C. (“Grassi”) as the Company’s independent registered public accounting firm to audit the Company’s financial statements for the year ended December 31, 2025, effective immediately. During the fiscal years ended December 31, 2025, and December 31, 2024, and the subsequent interim period through March 9, 2026, neither the Company nor anyone on its behalf has consulted with Grassi regarding (i) the application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company’s financial statements, and neither a written report nor oral advice was provided to the Company that Grassi concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing, or financial reporting issue, or (ii) any matter that was either the subject of a “disagreement,” as defined in Item 304(a)(1)(iv) of Regulation S-K, or a “reportable event,” as defined in Item 304(a)(1)(v) of Regulation S-K.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number   Description
16.1   Letter dated March 11, 2026, from Stephano Slack LLC to the U.S. Securities and Exchange Commission.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  Q/C TECHNOLOGIES, INC.
     
Date: March 13, 2026 By: /s/ Joshua Silverman
  Name: Joshua Silverman
  Title: Executive Chairman

 

 

FAQ

What auditor change did Q/C Technologies (QCLS) announce?

Q/C Technologies’ Audit Committee dismissed Stephano Slack LLC as its independent registered public accounting firm on March 9, 2026 and engaged Grassi & Co., CPAs, P.C. to audit the company’s financial statements for the year ended December 31, 2025.

Why did the prior auditor include a going concern paragraph for QCLS?

Stephano Slack included a going concern paragraph because Q/C Technologies reported a net loss and negative cash flows from operations for 2024, which raised substantial doubt about its ability to continue as a going concern. The financial statements did not include adjustments for this uncertainty.

Were there any disagreements between Q/C Technologies and Stephano Slack?

From October 3, 2023 through March 9, 2026, the company reports no disagreements with Stephano Slack on accounting principles, financial statement disclosures, or auditing scope or procedures, and no reportable events as defined in Item 304(a) of Regulation S-K.

Did Q/C Technologies consult Grassi before appointing them as auditor?

The company states that during 2024, 2025 and through March 9, 2026, neither it nor anyone on its behalf consulted Grassi on applying accounting principles to specific transactions, expected audit opinions, or any matters involving disagreements or reportable events.

What document did Stephano Slack provide to the SEC regarding QCLS?

Q/C Technologies provided Stephano Slack with the disclosure and requested a letter to the SEC. Stephano Slack issued a letter dated March 11, 2026, filed as Exhibit 16.1, stating whether it agreed with the company’s description of the auditor change.

What key financial risk does Q/C Technologies highlight in this disclosure?

The disclosure reiterates Stephano Slack’s going concern paragraph, which notes that Q/C Technologies’ 2024 net loss and negative operating cash flows raise substantial doubt about its ability to continue as a going concern, and that no adjustments have been made for this uncertainty.

Filing Exhibits & Attachments

5 documents
Q/C Technologies Inc

NASDAQ:QCLS

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Computer Hardware
In Vitro & in Vivo Diagnostic Substances
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