--- title: "Cell Source auditor Marcum resigns after CBIZ takes over its attest business" url: "https://aibio.space/news/cell-source-auditor-marcum-resigns-after-cbiz-takes-attest-business/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-06-26" section: "Legal" tickers: "OTC:CLCS" source: "https://www.sec.gov/Archives/edgar/data/1569340/000164117225016833/form8-k.htm" summary: "Marcum LLP resigned as Cell Source's auditor on June 26, 2025, after CBIZ CPAs took over its attest practice. Marcum's reports on 2022 and 2023 carried a g" --- By the aibio.space news desk. Sources - [SEC EDGAR: Cell Source 8-K](https://www.sec.gov/Archives/edgar/data/1569340/000164117225016833/form8-k.htm) - [Marcum LLP letter](https://www.sec.gov/Archives/edgar/data/1569340/000164117225016833/ex16-1.htm) - [SEC EDGAR: Cell Source 10-K](https://www.sec.gov/Archives/edgar/data/1569340/000149315226015359/form10-k.htm) - [SEC EDGAR: Cell Source NT 10-K](https://www.sec.gov/Archives/edgar/data/1569340/000164117225001080/formnt10-k.htm) - [Cell Source, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1569340/000149315226015359/) [CLCS](https://aibio.space/companies/cell-source/) 2025-06-26 # Cell Source auditor Marcum resigns after CBIZ takes over its attest business Tickers [CLCS](https://aibio.space/companies/cell-source/) Marcum LLP resigned as Cell Source's auditor on June 26, 2025, after CBIZ CPAs took over its attest practice. Marcum's reports on 2022 and 2023 carried a going-concern paragraph. ## Key facts - **Company**: Cell Source, Inc. (OTC: CLCS) - **News type**: Legal - **Primary source**: [SEC EDGAR: Cell Source 8-K](https://www.sec.gov/Archives/edgar/data/1569340/000164117225016833/form8-k.htm) *The stone facade of a federal building. Photo: Carol M Highsmith, CC0, via rawpixel. The picture shows the field, not the companies named.* Marcum LLP resigned as the independent registered public accounting firm of Cell Source, Inc. on June 26, 2025, according to a Form 8-K filed that day under Item 4.01, Changes in Registrant's Certifying Accountant. The company's Audit Committee approved the engagement of CBIZ CPAs P.C. for the year ended December 31, 2024. The 8-K says CBIZ CPAs acquired the attest business of Marcum effective November 1, 2024, and that the change followed from that deal. ## The company's account of the change The 8-K says the company had no disagreements with Marcum on accounting principles or practices, financial statement disclosure, or auditing scope or procedure. It also reports no reportable events, for the years ended December 31, 2024, 2023 and 2022 and for the interim period through June 26, 2025. Neither the company nor anyone on its behalf consulted CBIZ CPAs on the application of accounting principles to a specific transaction, or on the type of audit opinion that might be rendered, before the engagement. Those statements cover disagreements and reportable events. They do not address the going-concern paragraphs in Marcum's earlier reports, which the company does not mention in its own description of the change. ## Marcum's reports on 2022 and 2023 The 8-K describes Marcum's reports on the 2023 and 2022 financial statements as containing no adverse opinion or disclaimer of opinion. It says they were not qualified or modified as to uncertainty, audit scope or accounting principles, with one exception. Both reports included an explanatory paragraph about substantial doubt regarding the company's ability to continue as a going concern. Marcum did not provide an audit report on the 2024 financial statements. The CBIZ CPAs engagement is therefore the auditor's first work on the 2024 year. Marcum's letter, dated June 27, 2025 and filed as Exhibit 16.1, says it agrees with the statements concerning its firm. On the rest of the 8-K, the letter says Marcum is "not in a position to agree or disagree." The letter is therefore a check on the company's account of Marcum, not on the company's wider statements about its finances or its disclosure. ## The overdue 2024 annual report The auditor change came while the 2024 annual report was overdue. On March 28, 2025, Cell Source filed a Form 12b-25 notice of late filing for its annual report on Form 10-K for the year ended December 31, 2024. The notice is signed by chief executive Itamar Shimrat. The notice says the company could not file without unreasonable effort or expense because of "a delay experienced by the Registrant in completing its financial statements and other disclosures." It says the company was still compiling required information and expected to file no later than the fifteenth calendar day after the prescribed filing date. The form gives that prescribed date as March 31, 2024, although the report it covers is for the year ended December 31, 2024. The form does not give a new date. The notice also answers "No" to whether a significant change in results of operations from the prior year would be reflected in the report. It contains no figures for 2024 revenue, losses or cash. This story therefore does not report the 2024 results, the year-end cash position or any going-concern conclusion for that year, because the sources for it do not contain them. ## What the filings leave open The 8-K limits the engagement of CBIZ CPAs to the year ended December 31, 2024. It does not say whether the firm will audit 2025 or later years. The record of two going-concern paragraphs, a late 2024 report and an auditor change in the middle of that delay is the context a reader needs. The filings describe the change as a consequence of a sale of Marcum's attest business. They do not describe any dispute with Marcum, and Marcum's letter does not suggest one. No defendants are named in these filings, because the 8-K describes no lawsuit. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story CLCS Cell Source, Inc. 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Cite as: aibio.space, "Cell Source auditor Marcum resigns after CBIZ takes over its attest business", 2025-06-26, https://aibio.space/news/cell-source-auditor-marcum-resigns-after-cbiz-takes-attest-business/