MARIZYME, INC.: auditor change — Marizyme restates Q1 and Q2 2024 results; non-reliance due to convertible note accounting errors

MARIZYME, INC.

Non-reliance on financial statements for quarters ended March 31, 2024 and June 30, 2024 due to misstatements.
Convertible note modifications incorrectly recorded debt discount amortization instead of loss on extinguishment.
Material weakness identified in internal controls over debt/equity transactions; controls not effective.
Restatement to be included in September 30, 2024 Form 10-Q; no impact on cash, revenues, or liquidity.

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

MARIZYME, INC. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On March 4, 2025, the Audit Committee of Marizyme, Inc., a Nevada corporation (the “Company”), after discussions with the Company’s management concluded that the Company’s previously issued financial statements as of and for the quarterly periods ended March 31, 2024 and June 30, 2024 (the “Non-Reliance Period”) should no longer be relied upon due to misstatements that are described below and that we would restate such financial statements to make the necessary accounting corrections.

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Source: SEC EDGAR

accession 0001493152-25-009077

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