Zeo Energy restates FY2023 and FY2022 Sunergy financials; no impact on net income

Zeo Energy Corp.

Restatement corrects misclassifications: selling expenses moved from COGS to sales and marketing, no effect on total operating expenses or net income.
Finance lease assets/liabilities reclassified as right-of-use leases; operating lease presentation adjusted; cash flows unchanged.
Audit committee concluded prior financial statements (FY2022-2023, Q1 and Q2 2024) should no longer be relied upon.
Material weaknesses in internal control over financial reporting identified related to reconciliations, account review, and journal entries.
Company plans to file amendments to Form 10-Qs for Q1 and Q2 2024 to correct quarterly errors.

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