MITQ restates Q1 FY2022 financials; prior statements no longer reliable

MOVING iMAGE TECHNOLOGIES INC.

Restatement changes acquisition of MiT LLC from reverse merger to business combination.
Net loss adjusted: Q1 FY2022 loss increased from $576K to $578K; Q1 FY2021 loss decreased from $389K to $370K.
Total liabilities/equity revised: $15,702K to $15,703K (2021) and $5,719K to $5,720K (2020).
Additional paid-in capital increased by $1,601K for Q1 2021; retained earnings added $(1,740K).

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