GOLDENWELL BIOTECH, INC. 8-K filed 2026

Item 4.02(a). Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.

On November 26, 2024, Goldenwell Biotech Inc. (the “Company”) filed a Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the “September 30, 2024 Form 10-Q”).

On May 15, 2025, the Company filed an Annual Report on Form 10-K for the year ended December 31, 2024.

On May 27, 2025, the Company filed a Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 (the “March 31, 2025 Form 10-Q”).

On September 12, 2025, the Company filed a Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the “June 30, 2025 Form 10-Q”).

On December 8, 2025, the Company filed a Quarterly Report on Form 10-Q for the quarter ended September 30, 2025 (the “September 30, 2025 Form 10-Q”).

On May 19, 2025, the Company’s independent registered public accounting firm, Michael Gillsepie & Associates, PLLC (“Gillespie & Associates”), notified the Company that the Company did not follow US GAAP because an invoice dated September 23, 2025, from the Company’s legal counsel in the amount of $9,840 to the Company, which covered legal services rendered to the Company between May 21, 2024 and September 23, 2025, should have been recorded in the fiscal quarters when services were performed and not the fiscal quarter in which the Company received the invoice. Therefore, the Company anticipates that it will, by approximately June 30, 2026, restate its financial statements as follows:

Amend its March 31, 2025 Form 10-Q to recognize $2,280 of legal fees.

Amend its June 30, 2025 Form 10-Q to recognize $2,200 of legal fees.

Amend its September 30, 2025 Form 10-Q to recognize $2,080 of legal fees.

Additionally, with respect to March 31, 2025 Form 10-Q, the June 30, 2025 Form 10-Q and the September 30, 2025 Form 10-Q, the Company made errors in the timing of revenue recognition associated with a service contract that did not meet the criteria for revenue recognition and misclassified prepaid fees to the OTC Markes Group, Inc. that should have been deferred and amortized over the applicable contract terms.

As a result of the above, the financial statements filed with the March 31, 2025 Form 10-Q, the June 30, 2025 Form 10-Q, and the September 30, 2025 Form 10-Q should no longer be relied upon insofar as they relate to the $9,840 of legal expenses accrued between May 21, 2024 and September 23, 2025.

An authorized officer of the Company communicated with Gillespie & Associates regarding the matters disclosed in the filing pursuant to this Item 4.02(b).

Goldenwell Biotech, Inc. - 8-K

Item 4.02 - Non-Reliance on Previously Issued Financial Statements

Item 9.01 - Financial Statements and Exhibits