IMMUCELL CORP /DE/ (ICCC): auditor change — ImmuCell restates Q1/Q2 2022 for $222K deferred comp error; delays Q3 filing

IMMUCELL CORP /DE/

Restatement to accrue ~$222,000 of deferred compensation (earned/unused PTO) in Q1 2022; increases admin & accrued expenses, no cash or sales impact.
Previously issued Q1 and Q2 2022 financials should no longer be relied upon to that extent.
Q3 2022 10-Q filing delayed to Nov 21, 2022; conference call scheduled for Nov 22 at 9:00 AM ET.
No change to preliminary Q3 sales results previously disclosed on Oct 5, 2022.
Audit Committee and management determined the restatement is needed; Wipfli LLP consulted.

item 2.02 item 4.02 item 9.01

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

IMMUCELL CORP /DE/ reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Wipfli LLP

Exact text from the filing

such Previously Issued Financial Statements should no longer be relied upon to that extent.

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Source: SEC EDGAR

accession 0001213900-22-071209

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