HHG Capital Corp: auditor change — HHG Capital restates prior financials due to trust interest accrual error; non-reliance on FY2022 and Q1-Q3 2023

HHG Capital Corp

Interest income on trust account recorded on cash basis vs. accrual, understating trust investments, net income, and redeemable shares.
Material misstatements affect FY2022 and Q1-Q3 2023; those financial statements are no longer reliable.
Audit committee, in consultation with Marcum LLP, determined errors material per SAB 99 and SAB 108.
Company will restate and file amended 10-K for FY2023 as soon as practicable.

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

HHG Capital Corp reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

the errors were material to the financial statements for the fiscal year ended December 31, 2022, and the quarters ended March 31, 2023, June 30, 2023, and September 30, 2023 (collectively, the “Previously Issued Financial Statements”) and that the Previously Issued Financial Statements should no longer be relied upon

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Source: SEC EDGAR

accession 0001493152-24-010605

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