Quantum Cyber Dismisses Auditor Amidst Going Concern Warning, Appoints New Firm
Summary
Quantum Cyber N.V. changed its auditor, dismissing Reliant CPA PC and appointing Haskell & White LLP, despite the former having issued a 'going concern' warning in prior reports.
Key Events
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Auditor Dismissed
On June 22, 2026, the Audit Committee approved the dismissal of Reliant CPA PC as the company's independent registered public accounting firm.
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New Auditor Appointed
Haskell & White LLP was engaged as the new independent registered public accounting firm for the fiscal year ending December 31, 2026, effective immediately.
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Going Concern Warning Context
Reliant's reports for the fiscal years ended December 31, 2025 and 2024, contained a separate paragraph stating 'substantial doubt about its ability to continue as a going concern'.
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No Disagreements Reported
The company stated there were no disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedures, nor any 'reportable events' with Reliant.
Analysis
Quantum Cyber N.V. dismissed its independent registered public accounting firm, Reliant CPA PC, and appointed Haskell & White LLP. While the company stated there were no disagreements or reportable events leading to the dismissal, Reliant's previous audit reports for 2024 and 2025 included a 'going concern' warning. This change, in the context of the company's ongoing radical business pivot and prior financial instability, adds to the uncertainty surrounding its financial reporting and operational future.
At the time of this filing, QUCY was trading at $1.60 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $37.1M. The 52-week trading range was $0.30 to $4.93. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.