AI Technology Group Inc. has disclosed the resignation of its independent registered public accounting firm, Michael Gillespie & Associates, PLLC. The firm tendered its resignation on May 7, 2026, at the request of the Company’s Board of Directors.
Gillespie & Associates audited the Company’s consolidated financial statements for the fiscal years ended December 31, 2023 and December 31, 2024. The firm’s audit reports for those periods did not contain adverse opinions or disclaimers, though they did include an explanatory paragraph regarding the Company’s ability to continue as a going concern.
The filing states that during the fiscal years 2023 and 2024, there were no disagreements between the Company and Gillespie & Associates on accounting principles or auditing scope. However, the resignation was necessitated by issues arising during preliminary audit procedures for the fiscal year ending December 31, 2025. In connection with these procedures, Gillespie & Associates raised questions regarding the accounting treatment of a specific agreement dated December 15, 2025. This agreement involved the acquisition of 100% of the issued and outstanding shares of AVM Nevada by AI Technology Group, in conjunction with Biomed 360 Solutions Corp.
The disagreement centered on the accounting treatment of certain loans associated with AVM Nevada. The Company noted that management’s accounting assessment of the transaction was preliminary and had not been finalized at the time the questions were raised. The engagement was terminated before management completed its updated accounting analysis and supporting documentation, resulting in Gillespie & Associates not issuing an audit report for the 2025 fiscal year.
On August 31, 2026, the Company finalized an engagement with Fruci & Associates II, PLLC as its new independent registered public accounting firm. Fruci & Associates is based in Spokane, Washington, and will audit the Company’s financial statements for the fiscal year ending December 31, 2025, as well as conduct ongoing reviews of the unaudited quarterly financial statements.
