Livento Group, Inc.: auditor change — Livento Group says 2021 and 2022 financial statements no longer reliable due to cash flow accounting errors

Livento Group, Inc.

Board determined Dec 31, 2021 and 2022 financials in 10-K should no longer be relied upon.
Issue: cash flow statements revised to show only cash movements; non-cash transactions moved to narrative.
Management believes misstatements had no impact on revenues or EBITDA for 2021-2023 periods.
Amended 10-K filed; auditors Olayinka Oyebola & Co consulted.
SEC comment letter triggered the review; company is cooperating.

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

Livento Group, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Olayinka Oyebola & Co

Exact text from the filing

On June 22, 2023, the Board of Directors of Livento Group, Inc., a Nevada corporation (the “Company”), in conjunction with the SEC Comment Letter: Livento Group, Inc. 10-K/A, the Board, and the Company’s auditors, Olayinka Oyebola & Co, determined that the Company’s December 31, 2021 and December 31, 2022 financial statements in the Company’s previously filled Annual Report on Form 10-K (collectively, the “2022 Relevant Periods”), should no longer be relied upon.

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Source: SEC EDGAR

accession 0001493152-23-022722

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