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BTX > SEC Filings for BTX > Form 8-K on 7-Jul-2014All Recent SEC Filings

Show all filings for BIOTIME INC

Form 8-K for BIOTIME INC


7-Jul-2014

Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits


Item 4.01 Changes In Registrant's Certifying Accountant

On June 30, 2014, KPMG LLP ("KPMG") acquired certain assets of ROTHSTEIN-KASS, P.A. (d/b/a Rothstein Kass & Company, P.C.) and certain of its affiliates ("Rothstein Kass"), our independent registered public accounting firm. As a result of this transaction, Rothstein Kass is no longer providing accounting and audit services and on June 30, 2014 Rothstein Kass resigned as our independent registered public accounting firm. On July 7, 2014 our Board of Directors approved the engagement of OUM & Co. LLP ("OUM") as our new independent registered public accounting firm.

OUM is a leading California-based accounting firm that audits many small public companies and private companies, including biotechnology companies.

The audit reports of Rothstein Kass on the Company's consolidated financial statements for the years ended December 31, 2013 and 2012 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.

During the two most recent fiscal years ended December 31, 2013 and through the subsequent interim period preceding Rothstein Kass's resignation, there were no disagreements between us and Rothstein Kass 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 Rothstein Kass would have caused them to make reference thereto in their reports on our financial statements for such years.

During the two most recent fiscal years ended December 31, 2013 and through the subsequent interim period preceding Rothstein Kass's resignation, there were no reportable events within the meaning set forth in Item 304(a)(1)(v) of Regulation S-K.

During our two most recent fiscal years ended December 31, 2013 and through the subsequent interim period preceding OUM's engagement, we did not consult with OUM on either (1) the application of accounting principles to a specified transaction, either completed or proposed; or the type of audit opinion that may be rendered on our financial statements, and OUM did not provide either a written report or oral advise to us that OUM concluded was an important factor considered by us in reaching a decision as to the accounting, auditing or financial reporting issue; or (2) 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.


We have provided Rothstein Kass a copy of the disclosures in this Form 8-K and we have requested that Rothstein Kass furnish us with a letter addressed to the Securities and Exchange Commission stating whether or not they agree with the statements contained in this Report. A copy of the letter dated July 7, 2014 is filed as Exhibit 16.1 to this Form 8-K.



Item 9.01 Financial Statements and Exhibits.

Exhibit Number Description
16.1 Letter from Rothstein Kass to the Securities and Exchange Commission dated July 7, 2014.

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