Sustainable Projects Group Inc.: auditor change — Sustainable Projects Group restates FY2022 and Q1/Q2 2023 financials; prior statements unreliable

Sustainable Projects Group Inc.

Board concluded annual (FY2022) and Q1 and Q2 2023 financials should no longer be relied upon due to errors.
Restatement corrects goodwill impairment related to intellectual property and inventory write-downs at YER Brands subsidiary.
Also correcting accounting for reverse acquisition of Lithium Harvest; financials will reflect company on standalone basis.
New auditor Centurion ZD CPA & Co. will reaudit annual statements; prior auditor K.R. Margetson no longer PCAOB-registered.

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 0.95

Sustainable Projects Group Inc. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On December 6, 2023, the Board of Directors (the “Board”) of Sustainable Projects Group Inc. (the “Company”), after discussion with management, concluded that the annual financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “Form 10-K”) and the interim financial statements contained in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023 and June 30, 2023 should no longer be relied upon for the reasons summarized below.

View on SEC.gov

Browse all auditor changes →

Source: SEC EDGAR

accession 0001493152-23-044336

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.