Samsara Luggage, Inc.: auditor change — Samsara Luggage restates Q1-Q3 2024 financials; accounting error overstated Goodwill and Equity

Samsara Luggage, Inc.

Audit committee ruled Nov 27 that three 2024 Form 10-Qs are unreliable due to a common-control transaction recorded at fair value instead of book value.
Error caused overstated Goodwill and Stockholders' Equity (Deficit) in quarterly filings ended March 31, June 30, and Sept 30, 2024.
Company will file amended 10-Qs/A with restated unaudited financials and ASC 250 disclosures; auditor Bush & Associates will review.
Samsara shares trade on OTC Pink under ticker SAML.

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

Samsara Luggage, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On November 27, 2024, the Audit Committee of Samsara Luggage Inc.’s board of directors determined that its Form 10-Q’s filed on May 31, 2024, August 21, 2024, and November 19, 2024, which included the unaudited consolidated financial statements for the three months ended March 31, 2024, and 2023, for the six months months ended June 30, 2024, and the nine months ended September 30, 2024, (collectively referred to as the “Form 10-Q’s”) could no longer be relied upon

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Source: SEC EDGAR

accession 0001213900-24-104148

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