BioStem Technologies Appoints KPMG as its Independent Registered Public Accountant
MWN-AI** Summary
BioStem Technologies, Inc. (OTC: BSEM), a prominent player in the MedTech industry known for its placental-derived products aimed at advanced wound care, has appointed KPMG LLP as its new independent registered public accountant. This decision, approved by the Audit Committee of BioStem's Board of Directors, comes as the company phases out its previous accounting firm, Marcum LLP (now CBIZ, Inc.), effective October 22, 2025. BioStem CFO Brandon Poe acknowledged Marcum’s contributions during its tenure, especially during a period marked by the company's rapid growth.
The transition to KPMG reflects BioStem’s strategic plan to enhance its financial reporting and overall business trajectory. KPMG, a reputable firm boasting a specialized life sciences team, was selected to support BioStem as it prepares for a potential uplisting to the Nasdaq Capital Market. This partnership aligns with BioStem's long-term growth strategy and capital market ambitions, a move that Jason Matuszewski, the company’s CEO, describes as crucial for increasing visibility, improving stock liquidity, and allowing for a precise market valuation.
As BioStem approaches the completion of its audits for 2024 and 2025, the company is optimistic about its uplisting prospects. The management believes this transition to a national exchange will significantly enhance its ability to attract top talent and solidify its market presence. BioStem Technologies continues to innovate within the regenerative medicine field, thanks to its proprietary processing method, BioREtain®, utilized for producing quality allografts. The company remains committed to improving lives through its advanced medical solutions.
MWN-AI** Analysis
BioStem Technologies, Inc. (OTC: BSEM) recently made a strategic move by appointing KPMG as its independent registered public accountant, signaling a pivotal phase in its evolution. This announcement comes as the company gears up for an anticipated uplisting to the Nasdaq Capital Market, following the completion of its 2024 and 2025 audits. Such a transition can enhance the company’s visibility, improve stock liquidity, and attract top-tier talent, crucial elements for sustained growth.
The decision to engage KPMG, recognized for its expertise in the life sciences sector, underscores BioStem's commitment to robust financial governance as it navigates its growth trajectory. The absence of any disagreements with the previous auditor, Marcum LLP, suggests a smooth transition, reinforcing investor confidence in the company's operational integrity and direction.
From a market perspective, this move could be favorable for BSEM stakeholders. The impending Nasdaq uplisting, combined with KPMG's established reputation, should bolster investor sentiment and potentially drive up share prices. As BioStem continues to innovate in the MedTech space, focusing on placental-derived products, there remains a significant opportunity for growth. The proprietary BioREtain processing method and a portfolio of FDA-regulated allografts position the company well within the regenerative medicine landscape, a sector poised for expansion.
Investors should keep an eye on BioStem's audit timeline and uplisting progress. The successful execution of these steps could catalyze stock appreciation. Additionally, monitoring the company's research advancements and market adoption of its products will be essential. In summary, while BSEM presents a promising opportunity, careful observation of its financial milestones and operational developments will be crucial for making informed investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
POMPANO BEACH, Fla., Oct. 27, 2025 (GLOBE NEWSWIRE) -- BioStem Technologies, Inc. (OTC: BSEM) (the “Company”), a leading MedTech company focused on the development, manufacturing, and commercialization of placental-derived products for advanced wound care, today announced that the Audit Committee of its Board of Directors has approved the appointment of KPMG LLP (“KPMG”) as the Company's independent registered public accounting firm, and it has ended its engagement with its prior registered independent public accounting firm, Marcum LLP (now known as CBIZ, Inc.) (“Marcum”), effective as of October 22, 2025.
“As we transition to a new audit firm, we would like to thank Marcum for their support and contributions to our financial reporting over the past two years of rapid growth for the Company,” said Brandon Poe, Chief Financial Officer of BioStem. Mr. Poe added, “We conducted a thorough search for a firm to support our long-term growth plans and capital markets strategy, including our planned uplist to Nasdaq, and KPMG was our top choice. We are engaging a firm with a dedicated life sciences team and direct industry experience, and we are confident that KPMG will provide the expertise we require as our organization expands.”
During the Company’s two most recent fiscal years and any subsequent interim period preceding the dismissal, there were no disagreements with Marcum on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. Please refer to the Company’s OTC Disclosure & News Service disclosure on October 27, 2025, for additional information.
Nasdaq Uplisting Progress
Following the completion of the full year 2024 and 2025 audits, the Company plans to proceed with its uplisting to the Nasdaq Capital Market.
“We believe we have a clear path toward uplisting, and we continue to make progress building a solid foundation for a national exchange listing,” said Jason Matuszewski, Chairman and Chief Executive Officer of BioStem. “Uplisting remains a key priority that will enable greater visibility for the Company, improve stock liquidity, provide precise market valuation, and increase the Company’s ability to attract top talent. We are pleased to welcome KPMG to support BioStem through this next phase of our corporate evolution.”
About BioStem Technologies, Inc. (OTC: BSEM): BioStem Technologies is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain ® processing method. BioREtain ® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. BioStem Technologies’ quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established in compliance with current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). Our portfolio of quality brands includes AmnioWrap2™, VENDAJE ® , VENDAJE AC ® , and VENDAJE OPTIC ® . Each BioStem Technologies placental allograft is processed at the Company’s FDA registered and AATB accredited site in Pompano Beach, Florida. For more information visit biostemtechnologies.com and follow us on Twitter and Linkedin .
Join BioStem’s Distribution List & Social Media:
To follow the latest developments at BioStem, sign up for the Company’s email distribution list HERE , and follow us on X and LinkedIn .
Contact BioStem Technologies, Inc.:
Website: www.biostemtechnologies.com
E-Mail: info@biostemtech.com
X: @BSEM_Tech
Facebook: BioStemTechnologies
Phone: 954-380-8342
Investor Relations:
Philip Trip Taylor, Gilmartin Group
E-Mail: ir@biostemtech.com
FAQ**
What are the key reasons behind BioStem Technologies Inc BSEM's decision to switch from Marcum LLP to KPMG as its independent registered public accounting firm?
How does BioStem Technologies Inc BSEM plan to leverage KPMG's expertise in life sciences for its upcoming uplisting to the Nasdaq Capital Market?
What specific milestones must BioStem Technologies Inc BSEM achieve during the 2024 and 2025 audits to facilitate a successful uplisting to Nasdaq?
In what ways does BioStem Technologies Inc BSEM believe that uplisting to Nasdaq will enhance its visibility, stock liquidity, and ability to attract top talent?
**MWN-AI FAQ is based on asking OpenAI questions about BioStem Technologies Inc (OTC: BSEM).
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