Panacea Life Sciences restates Q3 2021 financials; board cites errors in revenue, COGS, leases, warrants

PANACEA LIFE SCIENCES HOLDINGS, INC.

Board concluded Q3 2021 unaudited financials filed Nov 22 should no longer be relied upon due to errors in revenue, cost of goods sold, lease liability, options and warrants.
Restated financials filed in amended 10-Q/A on Dec 17, 2021, affecting balance sheet, income statement, equity, and cash flow statements.
Original 10-Q was not reviewed by independent accountant RBSM prior to filing; amended report was reviewed and may be relied upon.
Board and CEO discussed the non-reliance determination with representatives of RBSM.

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