Zeo Energy restates FY2023 & Q1 2024 financials; net income cut by $1.4M

Zeo Energy Corp.

FY2023 net income reduced by $1.417M due to corrections in accounts payable, accrued expenses, and revenue.
Q1 2024 net loss increased by ~$193K; stock-based compensation ($505K) and transaction costs ($572K) were missed.
Material weaknesses exist in internal control over financial reporting: reconciliations, journal entry review.
Sunergy audited FY2023 assets restated to $48.1M; liabilities $17.5M; equity $30.6M.
Filing amends prior 8-Ks after non-reliance determination announced on July 29, 2024.

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