T-REX Acquisition Corp. (TRXA): auditor change — T-REX Acquisition Corp restates FY2024 financials for $15K accrual omission; board member resigns

T-REX Acquisition Corp.

Non-reliance on audited FY2024 10-K (filed Nov 21, 2024) due to omitted $15,000 accrual for Note Payable Incentives stock issuance.
Audit Committee concluded statements unreliable; restated financials planned by Dec 30, 2024.
Error affects stock subscription payables and loan cost expense in equity sections.
Matthew Cohen resigned from Board on Dec 20, 2024, not due to any disagreement.

item 4.02 item 5.02

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

T-REX Acquisition Corp. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Integritat CPA

Exact text from the filing

E ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED On December 21, 2024, our Audit Committee concluded after considering the recommendations of management and based on communications with Integritat CPA, the Company's independent registered public accounting firm, that the Company's audited financial statements for the year ended June 30, 2024 reflected in its Form 10-K previously filed on November 21, 2024 (the "10-K"), and the related notes and schedules should not be relied upon (the "Non-Reliance Period"). The 10-K has been restated for an omitted accrual of approximately $15,000 for the Company's obligation to settle Note Payable Incentives by the issuance of restricted common stock to note holders.

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Source: SEC EDGAR

accession 0001477932-24-008354

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