Genvor Inc (GNVR): auditor change — Genvor restates financials for four periods due to $246k liability error

Genvor Inc

Non-reliance on financials for Sept 30, 2022, Dec 31, 2022, Mar 31, 2023, June 30, 2023.
Error: incorrectly recorded $246k liability for USDA CRADA extension payment not required.
Overstated current liabilities and net loss by approx. $246k each period.
Independent accountant concurred; letter filed as Exhibit 7.1.

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

Genvor Inc reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

the Company’s financial statements for the periods ending September 30, 2022, December 31, 2022, March 31, 2023, and June 30, 2023, should no longer be relied upon because the Company had incorrectly recorded a liability for what it believed was a required extension payment associated with its USDA CRADA research contract

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Source: SEC EDGAR

accession 0001493152-24-002926

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