KINS Technology restates prior financial statements on public share classification error

CXApp Inc.

Audit committee concluded previously issued financials for FY2020, Q1 2021, Q2 2021 should no longer be relied upon.
Error: Public Shares were classified as permanent equity but should be temporary equity under ASC 480-10-S99-3A.
Cash position and trust account balance not affected by the reclassification.
Company identified a material weakness in internal control over financial reporting; disclosure controls ineffective.
Company will file amendments to restate financials for affected periods.

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