Leader Capital restates financials for six periods due to stock compensation errors

Leader Capital Holdings Corp.

Board concludes financials for six periods from Nov 2019 to Feb 2021 are no longer reliable.
Errors stem from accounting for unvested shares issued to directors, employees, and consultants under ASC 718.
Restatement will decrease prepayments, deposits, other receivables and additional paid-in capital; amounts unknown.
Company will amend the 2020 Form 10-K and quarterly reports for all affected periods.
Discussed the non-reliance with independent auditor Centurion ZD CPA & Co.

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