GLOBALINK INVESTMENT INC.: auditor change — Globalink Investment restates financials due to warrant misclassification error

GLOBALINK INVESTMENT INC.

Audit committee on Nov 10, 2022 concluded FY2021, Q1 2022, Q2 2022 financials were unreliable.
Warrants misclassified as equity will be reclassified as liabilities; restated filings were filed Dec 5, 2022.
Future warrant fair value changes will be non-cash charges; liability treatment continues unless warrants amended.
Company has no operating revenues and expects none until after initial business combination.

item 4.02

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

GLOBALINK INVESTMENT INC. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

should no longer be relied upon due to the misclassification of the Company’s outstanding warrants as components of equity instead of as liabilities

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Source: SEC EDGAR

accession 0001493152-22-036320

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