Nitches restates FY2023 financials due to errors in non-cash interest and derivatives

NITCHES INC

Board determined FY2023 annual and certain quarterly financial statements are no longer reliable due to material misstatements.
Errors identified in treatment of non-cash interest, changes in derivative liabilities, and valuation of stock issuances.
Restated financials to be filed as amendments to 10-K for FY2023 and affected 10-Qs as soon as practicable.
Newly appointed auditor RBSM LLP will finalize audit of the restated periods.
Investors advised not to rely on the prior financial statements until restatements are completed and filed.

item 4.02item 9.01

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