other material
confidence high
sentiment negative
materiality 0.80
HNO International restates FY2023 results; non-reliance on prior financials due to stock-based comp errors
HNO International, Inc.
- Board determined previously issued FY2023 financial statements (filed Jan 29, 2024) are no longer reliable due to material misstatements.
- Misstatements involve fair value of stock-based compensation; net loss increased by approximately $467,775 for the year ended Oct 31, 2023.
- Revised FY2023 financials will be included in the upcoming FY2024 Form 10-K, to be filed as promptly as possible.
- New auditor Barton CPA engaged in May 2024 after prior auditor BF Borgers was suspended by the SEC on May 3, 2024.