Crypto Co. says 2024 financials unreliable; omitted $1.32M derivative liability on convertible debt

Crypto Co

Audit Committee determined FY2024 audited financials are unreliable due to omitted derivative liability of $1,319,366 on convertible debt.
Company will file amended 10-K to correct error; re-audit by Beckles & Co. is underway.
The error involves failure to record a derivative liability related to convertible debt instruments.
Audit Committee, Board, and management have discussed matter with independent auditor Beckles.

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