Pro-Dex restates FY2020-2022 financials due to Monogram warrant valuation error; material weakness disclosed

PRO DEX INC

Company will restate audited FY2020-2022 and unaudited interim quarters through Mar 2023; prior reports no longer reliable.
Monogram Warrant fair value understated; correct values: $718k (2020), $1.4M (2021), $2.4M (2022).
Restatement increases unrealized gains on marketable securities; no impact on revenue, operating income, or cash flows.
Material weakness in internal control over financial reporting related to ASC 815 warrant valuation.
Company plans to file restated financials with FY2023 10-K as soon as practicable.

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