Solidion Technology Inc. (STI): auditor change — Solidion Technology restates Q1-Q3 2024 financials due to $2.8M convertible note cost omission

Solidion Technology Inc.

On April 11, 2025, the company determined quarterly financials for March 31, June 30, and Sept 30, 2024 require restatement and should no longer be relied upon.
Error: $2.8 million of non-cash stock-based expense for bonus shares omitted from the March 31, 2024 quarter.
Restatement increases net loss and additional paid-in capital but has no impact on total shareholders' equity or cash flows.
Restated financials will be included in the 2024 10-K and future 10-Qs; no amendments to prior Q reports.
The matter was discussed with Deloitte & Touche LLP, the independent auditor.

item 4.02

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

Solidion Technology Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

equire restatements and should no longer be relied upon. In addition, any previous communications describing the Company’s quarterly financial statements and other related financial information covering the Affected Periods should no longer be relied upon. In connection with the preparation of the Company's audited financial statements for the year ended December 31, 2024, the Company identified an error related to the accounting for issuance costs associated with convertible notes. Specifically, approximately $2.8 million of non-cash, non-operating stock-based expense related to bonus shares was inadvertently omitted from the financial results for the quarter ended March 31, 2024. The Company will include restated financial information for the Affected Periods in a footnote to the financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended Decembe

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Source: SEC EDGAR

accession 0001213900-25-032293

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