Monitor the upcoming 10-Q filing for the quarter ended June 30, 2026, which was delayed due to the auditor's review. The new auditor's assessment of the material weaknesses and any potential restatements will be critical. Watch for any subsequent 8-K filings indicating further control deficiencies or a going-concern update.
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Executive Summary
Profusa dismissed its auditor CBIZ CPAs P.C. and engaged WithumSmith+Brown, PC as its new independent registered public accounting firm. The change comes amid unremediated material weaknesses in internal controls and follows a late NT 10-Q filing 56 days prior, raising concerns about financial reporting reliability and audit quality.
Key Facts
- CBIZ was dismissed on October 5, 2026; Withum was engaged on October 6, 2026.
- CBIZ's 2025 audit report included a going-concern explanatory paragraph.
- Material weaknesses in internal controls (lack of segregation of duties, insufficient review controls, lack of technical accounting expertise) were not remediated as of June 30, 2026.
- No disagreements or reportable events occurred with CBIZ, except the previously disclosed material weaknesses.
- The NT 10-Q for the quarter ended June 30, 2026 was filed late on August 14, 2026, citing delays in the auditor's review.
- Withum was not consulted on any accounting or auditing matters prior to engagement.
Financial Impact
Auditor change with unremediated material weaknesses and a going-concern opinion increases financial reporting risk; no specific dollar amounts disclosed.
Risk Factors
- Potential restatement of prior financial statements if material weaknesses lead to errors.
- Delisting risk if the company fails to file timely periodic reports.
- Going-concern risk as highlighted in the prior audit report.
- Loss of investor confidence due to accounting and control issues.
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001213900-26-108552 |
| Document: ea030813401ex16-1.htm | 0001213900-26-108552 |
| Document: 0001213900-26-108552-index-headers.html | 0001213900-26-108552 |
| Document: 0001213900-26-108552-index.html | 0001213900-26-108552 |
| Document: 0001213900-26-108552.txt | 0001213900-26-108552 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | Press Release | $1.07 $1.02 | ▼ −4.67% | ▼ −3.66% | $0.7710 (−27.94%) |
Oct 15, 2026 12d ago | 8-K | $1.07 $1.02 | ▲ +4.67% | ▲ +3.66% | $0.7710 (+27.94%) |
Oct 9, 2026 17d ago | 8-K | $1.30 $0.9002 | ▲ +30.75% | ▲ +29.26% | $0.7710 (+40.69%) |
Oct 5, 2026 22d ago | 8-K | $1.75 $1.30 | ▼ −25.71% | ▼ −26.14% | $0.7710 (−55.94%) |
Sep 24, 2026 4w ago | Press Release | $3.03 $1.87 | ▼ −38.28% | ▼ −37.87% | $0.7710 (−74.55%) |
Sep 16, 2026 5w ago | 8-K | $1.78 $2.05 | ▼ −15.17% | ▼ −12.61% | $0.7710 (+56.69%) |
Sep 15, 2026 6w ago | 8-K | $1.83 $1.91 | ▲ +4.37% | ▲ +3.55% | $0.7710 (−57.87%) |
Sep 1, 2026 8w ago | 8-K | $2.88 $2.47 | ▲ +14.24% | ▲ +14.32% | $0.7710 (+73.23%) |
Aug 31, 2026 8w ago | 8-K | $3.00 $2.88 | ▼ −4.00% | ▼ −3.86% | $0.7710 (−74.30%) |
Aug 20, 2026 9w ago | 8-K | $7.57 $4.24 | ▲ +43.99% | ▲ +45.10% | $0.7710 (+89.82%) |
US Market Status
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