home · filing · 0001140361-23-002872
8-K filed January 26, 2023, 6:59 PM ET
ticker SOAR
CIK 0001853070
other material
confidence high
sentiment negative
materiality 0.65
Volato Group, Inc. (SOAR): auditor change — Proof Acquisition restates Q1-Q3 2022 unaudited financials for D&O insurance error
Volato Group, Inc.
Previously issued unaudited Q1, Q2, Q3 2022 financials restated due to D&O liability insurance expense misallocation.
Management and audit committee concluded those statements should no longer be relied upon.
Restatement does not affect cash position or trust account balance.
Material weakness in internal control over financial reporting identified.
Restatement will be reflected in the 2022 Form 10-K.
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
Volato Group, Inc. reported that prior financial statements should not be relied upon.
Action non reliance
Exact text from the filing
should be restated to accurately allocate the expense for directors and officers liability insurance and should no longer be relied upon.
View on SEC.gov
Source: SEC EDGAR
accession 0001140361-23-002872
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.