Pacific Green restates Q2-Q4 FY2023 financials; cites material internal control weaknesses

Pacific Green Technologies Inc.

Q4 Dec 2023 restatement: Revenue down $75.7M; cost of sales down $59.3M; gain on derecognition up $16.4M.
Q2 Jun 2023: Gain on derecognition of BESS subsidiaries increased $11.25M within operating income.
Q3 Sep 2023: Gain on derecognition increased $5.5M; expense classification errors corrected.
Two material weaknesses: lack of US GAAP resources for complex transactions; inadequate monitoring controls.
Disclosure controls and procedures for all affected quarters deemed ineffective.

item 4.02

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