Bio Essence Corp. restates Q1 2024 financials due to unapproved lease termination accounting error

Bio Essence Corp

Determined on Aug 19, 2024 that financial statements for Q1 ended March 31, 2024 cannot be relied upon.
Error: prematurely wrote off right-of-use asset and lease liability from lease termination not approved by landlord.
Corrective action: will file an amended Form 10-Q/A with updated financials keeping the lease liabilities.
Board discussed the matter with the Company's independent accountant prior to filing this 8-K.

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