Planet 13 restates 2021-2023 financials after $22M believed misappropriated by investment advisor

Planet 13 Holdings Inc.

Believed misappropriation of ~US$22.0M of company funds held by El Capitan Advisors, Inc.
Restatement covers audited FY 2021 & 2022 and unaudited Q1-Q3 2023 financials.
Expects to decrease cash by ~US$16.5M for 2022, impacting net income, EPS, and taxes.
Q3 2023 10-Q will also reflect ~US$5.5M restricted cash adjustment.
Company will file amended reports and review internal controls over financial reporting.

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