Adapti restates financials; acquisition of Ballengee Group should have been reverse recapitalization

Adapti, Inc.

Board concluded on July 14, 2026 that Q2 and Q3 FY2026 financials (Sep 30, Dec 31, 2025) should no longer be relied upon.
Error: Transaction with Ballengee Group was accounted for as acquisition by Adapti, but should have been reverse recapitalization with Ballengee as accounting acquirer.
James Ballengee received 81% of Adapti's common stock in the July 2025 deal, giving him control of the board and management.
Company will restate the affected financial statements; discussions with auditor Victor Mokuolu, CPA PLLC are ongoing.

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