Horizon Kinetics Holding Corp (HKHC): auditor change — Horizon Kinetics restates 2023-2024 financials to consolidate proprietary funds; no change to net loss or equity

Horizon Kinetics Holding Corp

Audit committee on Feb 7, 2025 determined prior financials (FY2023, FY2022, interim 2024) should no longer be relied upon.
Restatement required to consolidate certain proprietary funds under VIE model; net loss attributable remains $4.492M for FY2023.
Total assets restated from $231.9M to $1.12B due to consolidation of fund assets ($903.7M investments).
Redeemable noncontrolling interests of $878.3M added; no impact on shareholders' equity or cash.
Company expects to file restated 10-K for FY2024 by March 31, 2025.

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

Horizon Kinetics Holding Corp reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Marcum LLP

Exact text from the filing

concluded that the Company’s previously issued consolidated financial statements as of and for the years ended December 31, 2023 and 2022 contained within Exhibit 99.1 to the Company’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on August 7, 2024 should no longer be relied upon.

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Source: SEC EDGAR

accession 0000950170-25-020010

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