Vivos Therapeutics, Inc. (VVOS): auditor change — Vivos to restate Q1 2022 revenue up ~$200k; no prior annual restatements needed

Vivos Therapeutics, Inc.

Revenue recognition error found under ASC 606; Q1 2022 revenue will increase by ~$0.2M, net loss decreases same amount.
No restatement required for audited fiscal years 2019-2021; no cash flow impact from corrections.
Company expects to file restated Q1 10-Q shortly and Q2/Q3 2022 10-Qs by Dec 31, 2022.
Additional material weakness in internal controls over revenue recognition identified as of March 31, 2022.

item 2.02 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

Vivos Therapeutics, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

the Company’s previously issued unaudited interim consolidated financial statements for the Restated Period included in its Quarterly Report on Form 10-Q for the Restated Period, as originally filed with the Securities and Exchange Commission on May 16, 2022, should no longer be relied upon.

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Source: SEC EDGAR

accession 0001493152-22-033237

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