---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-028391"
form_type: "8-K/A"
ticker: null
cik: "0001858028"
company_name: "Nova Vision Acquisition Corp"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T12:46:17.610100+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Nova Vision auditor says FY 2021 & 2022 financials should not be relied upon; restatement due to IPO valuation errors

## Summary
- MaloneBailey notified Nova Vision on June 19, 2023 that its 2021/2022 financial statements must be restated and no longer relied upon.
- Errors found in original valuation of IPO unit instruments, affecting fair value allocation and accretion of carrying value to redemption value.
- Material weakness in internal control over financial reporting identified; disclosure controls also found ineffective as of Dec 31, 2022.
- Company filed multiple Form 10-K amendments (No. 1 on June 30, No. 2 on Aug 14, No. 3 on Aug 14, 2023) to correct the errors and address SEC comments.

## SEC filing metadata
- accession: 0001493152-23-028391
- form_type: 8-K/A
- cik: 0001858028
- company_name: Nova Vision Acquisition Corp
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1858028/000149315223028391/0001493152-23-028391-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1858028/000149315223028391/form8-ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-028391
- JSON: https://secwatch.observer/filing/0001493152-23-028391.json
- Plain text: https://secwatch.observer/filing/0001493152-23-028391.txt

## Key facts
- Auditor Changes
  Nova Vision Acquisition Corp reported that prior financial statements should not be relied upon.
  - Action: non reliance
  - Auditor: MaloneBailey
  source text: On June 19, 2023, MaloneBailey, the independent registered public accounting firm of Nova Vision Acquisition Corp., notified the Company that the Company’s balance sheet as of December 31, 2021 and 2022, and the related statements of operations, statement of changes in shareholders’ equity (deficit), and cash flows (the “ Financial Statements ”) included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2023 (the “ Form 10-K ”) should be restated and should no longer be relied upon.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1858028/000149315223028391/0001493152-23-028391-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.