EQUATOR Beverage Co (MOJO): auditor change — Equator Beverage restates Q3 2024 results; net income turns to $428k loss

EQUATOR Beverage Co

Errors: not expensing earned stock awards and cash bonuses, incorrect stock valuation method.
Q3 net income restated from $69k profit to $428k loss; EPS from $0.00 to $(0.02).
Nine-month net loss increased from $94k to $592k; EPS from $(0.01) to $(0.03).
Prior 10-Q for Sept 30, 2024 should no longer be relied upon.
Amended 10-Q to be filed by March 17, 2025.

item 4.02 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

EQUATOR Beverage Co reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Victor Mokuolu, CPA PLLC

Exact text from the filing

on March 10, 2025, the board of directors of the Company determined, upon the recommendation of the Company’s management, and in consultation with the Company’s independent registered public accounting firm, that the Company should restate its previously issued financial statements for the three and nine months ended September 30, 2024

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Source: SEC EDGAR

accession 0001477932-25-001708

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