Next Bridge Hydrocarbons restates FY2023 and periodic 2023-2024 financials due to valuation errors

Next Bridge Hydrocarbons, Inc.

Errors in fair value adjustment of Orogrande oil and gas properties at Dec 2022 spin-off, impairment application, and Wildcat asset sale valuation.
Previously issued audited FY2023 and unaudited quarterly 2023 and 2024 financials should no longer be relied upon.
Company will restate financials, reversing 100% impairment recorded as of Dec 2022 and updating valuation method for Wildcat asset sale.
Restated financials to be filed in 2023 Form 10-K/A and 2024 Form 10-K as soon as practicable.

item 4.02

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