GRAPHJET TECHNOLOGY (GTIJF): auditor change — Graphjet Technology restates FY2023 financials; non-reliance due to IP valuation error

GRAPHJET TECHNOLOGY

Restating FY2023 audited financials; re-audit by Kreit & Chiu CPA, LLP replacing Adeptus Partners.
Error: IP assignment from former CSO Mr. Liu misclassified as third-party acquisition; will now be valued at his development cost per ASC 850-10-20.
Company still expects to file FY2024 10-K before July 17, 2025 Nasdaq hearing.
Audit Committee expanded: appointed Chen Siow Woon and Ang Chee Yong effective April 11, 2025.

item 4.02 item 5.02 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

GRAPHJET TECHNOLOGY reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

it was decided that the financial statements for the year ended September 30, 2023, which had been previously audited by Adeptus Partners LLC, will be re-audited and restated

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Source: SEC EDGAR

accession 0001213900-25-056718

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