Solésence restates 2023-2026 financials; inventory costing errors overstated inventories

SOLESENCE, INC.

Audit Committee concluded Aug 17, 2026 that financials from Dec 31, 2023 through Mar 31, 2026 should no longer be relied upon.
Inventory costing process failed ASC 330; labor/overhead allocation used unsupported budget-based percentages and bases.
Errors overstated inventories and misstated cost of revenue, gross profit, net income, EPS, accumulated deficit, and equity.
Company will file amended 10-Ks for 2023-2025 and amended 10-Qs for quarters in 2024, 2025, and Q1 2026 in coming weeks.

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