OneMedNet Corp (ONMD): auditor change — OneMedNet restates FY 2023; finds errors in convertible notes, warrants, stock comp, de-SPAC

OneMedNet Corp

Audit Committee determined on Nov 4, 2024 that prior FY 2023 financial statements should no longer be relied upon due to errors.
Restated 10-K/A for fiscal year ended December 31, 2023 filed on November 5, 2024.
Errors identified in accounting for convertible notes, warrants, stock-based compensation, and de-SPAC transaction.
Reaudit by new auditor WithumSmith+Brown followed SEC's permanent ban of prior auditor BF Borgers in May 2024.
The errors were discovered during reaudit of 2023 and 2022 financial statements due to insufficient audit procedures by BF Borgers.

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

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

Action: non reliance
Auditor: WithumSmith+Brown, PC

Exact text from the filing

On November 4, 2024, the Audit Committee (the “Audit Committee”) of OneMedNet Corporation (the “Company”) resolved that the Company’s previously issued financial statements (the “Prior Financial Statements”) contained within its Annual Report on Form 10-K for the year ended December 31, 2023, originally filed on April 9, 2024, should no longer be relied upon due to errors in the Prior Financial Statements.

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Source: SEC EDGAR

accession 0001493152-24-043622

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