StageZero Life Sciences Ltd T.SZLS

Alternate Symbol(s): SZLSF

Healthcare Biotechnology

StageZero Life Sciences, Ltd. is a Canada-based vertically integrated healthcare company. The Company is engaged in improving the early detection and management of cancer and other chronic diseases through diagnostics and telehealth programs that provide clinical interventions to assist patients who have cancer (COC Protocol), and help patients reduce the risk of developing late-stage disease (AVRT). Its test, Aristotle, is the first mRNA multi-cancer panel for simultaneously screening for multiple cancers from a single sample of blood with high sensitivity and specificity for each cancer. Aristotle uses mRNA technology to identify the molecular signatures of multiple cancer types and is built on the Company's patented technology platform, the Sentinel Principle. The Care Oncology Clinic offers a supervised treatment regimen (the COC Protocol) for people diagnosed with cancer of any type or stage. Its ColonSentry is a proprietary blood test for screening for Colorectal Cancer.

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StageZero Life Sciences Ltd > New Auditors

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Comment by Yoyobeanson Dec 31, 2020 7:20pm

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Post# 32206160

RE:RE:New Auditors

brad129 wrote:
Why are we changing so many times, disputes on the numbers seem to be the issue, James needs to provide details. I think this is the third in the past 4 years. Now we can expect delays.

Happy New Years all.

Brace yourself for even more administrative changes as the company continues on its current growth path. As shown in SZLS's website, they are basically a one-man management team with a few independent directors and no other in-house CFO, Corporate Secretary, or other executives. I think the current interim CFO is contracted from a consulting company that provides part-time CFO services and will likely need to be replaced at some point with an in-house one. It also appears that the company has given little priority to in-house accounting and financial reporting capabilities which can show with poorly presented financials (like Q2) and recent delays. I know this is an exageration, but it's somewhat akin to the one-person company with a great product that has a bookkeeping system consisting of a shopping bag and a closet which can be cost effective until such time auditors, securities commissions and exchanges get involved. It does not help that SZLS's particular situation has financial reporting needs that require some complex accounting treatments. As for the new auditor being engaged, they consider themselves a mid-size firm. BDO is also mid-size but larger with more national resources so more in line with the upper tier of the mid-size range. Because of the company's reliance on an out-sourced CFO and financial statement preparation assistance by yet another firm, I can see them needing a smaller firm, not for the reason they give in the nr, but for better flexibility with dealing with their current weaknesses.