other material
confidence high
sentiment negative
materiality 0.65
OneMeta restates 10-Q for June and Sept 2024 due to ~$576k error in G&A and APIC
OneMeta Inc.
- Non-reliance on unaudited financials for periods ended June 30, 2024 and September 30, 2024.
- Overstatement in G&A expenses and additional paid-in capital of ~$576,160 each period due to incorrect stock price.
- Error did not impact revenue or net equity; no change to business plan or operations.
- Audit Committee determined to amend and restate the 10-Qs; discussed with independent accountant M&K CPAs.