Emmaus restates 2020 financials; net income rises to $1.4M from $1.1M

Emmaus Life Sciences, Inc.

Non-reliance on FY2020 financials due to equity method investment misstatement; restated 10-K/A filed with unqualified audit opinion.
Net income restated to $1.4M from $1.1M; increase of $254K and $0.01 EPS from corrected equity in losses of Japanese affiliate EJ Holdings.
Original audit opinion had qualification; now eliminated with complete audit of affiliate financials.
Trading on OTC Pink could be suspended if Q1 and Q2 2021 10-Qs not filed by September 28, 2021; company striving to file promptly.
Interim Endari® sales volumes previously reported; full Q1 and Q2 2021 results expected in upcoming 10-Q filings.

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