other material
confidence high
sentiment negative
materiality 0.75
Fuse Group terminates E-Mo Biotech acquisition; restates Q1, Q2 2021 financials
FUSE GROUP HOLDING INC.
- Terminated Share Exchange Agreement to acquire E-Mo Biotech; no shares issued or exchanged.
- Will restate financials for quarters ended March 31 and June 30, 2021 due to reclassification error.
- 14,285,715 shares issued as prepayment for mining rights reclassified to equity deduction per SAB Topic 4:E.
- Non-reliance on previously issued Q1 and Q2 2021 financial statements; amendment to 10-Qs planned.