Maison Solutions Inc. (MSS): auditor change — Maison Solutions restates FY2024 and Q1-Q3 FY2025 financials due to cash accounting error in Lee Lee Acquisition

Maison Solutions Inc.

Audit Committee determined financial statements for Apr 2024, Jul/Oct 2024, Jan 2025 should no longer be relied upon.
Restatement increases cash by $2.07M and decreases goodwill by same amount from Lee Lee Acquisition in April 2024.
No impact on reported operations, non-GAAP metrics, compensation, or financial covenant compliance.
Errors were unintentional, not fraudulent; restatement limited to balance sheet cash and cash flow statements.

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

Maison Solutions Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Kreit & Chiu CPA LLP

Exact text from the filing

tatements, should no longer be relied upon. During the preparation of its annual report on Form 10-K for the period ended April 30, 2025 (the “2025 Form 10-K”), the Company determined that it had not appropriately accounted for certain historical transactions under US GAAP. In accordance with Staff Accounting Bulletin (“SAB”) 99, Materiality, and SAB 108, Considering the Effects of Prior Period Misstatements when Quantifying Misstatements in Current Period Financial Statements, the Company evaluated the materiality of the errors from qualitative and quantitative perspectives, individually and in aggregate, and concluded that the errors were material to the Consolidated Balance Sheet as of Ap

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Source: SEC EDGAR

accession 0001213900-25-075760

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