S&W Seed Co: auditor change — S&W Seed receives Nasdaq delisting notice for late 10-K; restates quarterly segment reporting

S&W Seed Co

Received Nasdaq notice on Oct 17, 2024 for failing to timely file FY 2024 10-K; must submit compliance plan within 60 days.
Also non-compliant with minimum bid price ($1.00); deadline Nov 11, 2024; implemented 1-for-19 reverse stock split Oct 18.
Management says Q1-Q3 FY2024 financials should no longer be relied upon due to segment reporting errors; now three segments (Americas, International, AUSDOM) as of July 1, 2023.
Restated segment info will appear in the upcoming 10-K; no amendments to previously filed Q reports.

item 3.01 item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

S&W Seed Co reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On October 17, 2024, Company management concluded that its unaudited condensed consolidated financial statements for each of the quarterly periods included in the Company's Quarterly Reports on Form 10-Q filed with the SEC on November 9, 2023, February 14, 2024 and May 14, 2024, respectively, (collectively the "Non-Reliance Periods") should no longer be relied upon because of errors in footnote disclosure related to segment reporting.

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Source: SEC EDGAR

accession 0000950170-24-116688

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