REGI U.S., INC. (OTCMKTS:RGUS) Files An 8-K Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim ReviewItem 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
The Company’s previously issued financial statements contained in the Company’s report on Form 10-Q for the quarterly period ended July 31, 2017 (“Quarterly Report”) filed on November 16, 2017 were not reviewed by the Company’s independent registered public accounting firm in accordance with the rules and regulations of the Securities and Exchange Commission and thus are deemed substantially deficient and not timely filed.
As a result, the Company has determined that the financial statements contained in the Quarterly Report should not be relied upon. The Company will amend the Quarterly Report once the financial statements have been reviewed by the Company’s independent registered public accounting firm.
About REGI U.S., INC. (OTCMKTS:RGUS)
REGI U.S., Inc. is a development-stage company. The Company is engaged in the business of developing and building axial vane-type rotary engine known as the RadMax rotary technology (the RadMax Engine). The RadMax rotary technology is used in the design of lightweight and high efficiency engines, compressors and pumps. The Company owns the United States marketing and intellectual rights, and has a project cost sharing agreement for the further development of the RadMax Engine. The Company’s subsidiary is Rad Max Technologies, Inc.