Angel Studios, Inc. (ANGX): auditor change — Southport Acquisition restates Q3 2022 cash flow; non-reliance on prior filing

Angel Studios, Inc.

Restates Q3 2022 cash flow statement: reclassifies $990,869 of interest income from operating to investing activities.
Adds $235,156,272 in sale/purchase of marketable securities to investing cash flows.
Company concludes that original Q3 2022 financial statements should no longer be relied upon.
Material weakness in internal control over financial reporting identified; details to follow in 2022 Form 10-K.

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

Angel Studios, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

after discussion with BDO LLP, the Company’s independent registered public accounting firm, on May 3, 2023, the Company’s management and the audit committee of the Company’s board of directors concluded that the Original Financial Statements should no longer be relied upon

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Source: SEC EDGAR

accession 0001104659-23-057165

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