MINERALRITE Corp (RITE): auditor change — MineralRite restates financials, cuts asset carrying value from $432M to $246M

MINERALRITE Corp

Restated FY2025 10-K and Q1 2026 10-Q; prior statements no longer reliable.
Accounting for Peeples acquisition changed from business combination to asset acquisition under ASC 805-50.
Carrying value of acquired assets reduced by $186M, from $432M to $246M.
Revisions relate to non-cash accounting matters; no fraud or revenue issues.
SEC review ongoing; outcome and timing uncertain.

item 4.02 item 7.01 item 8.01 item 9.01

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

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

Action: non reliance

Exact text from the filing

management determined that certain previously issued financial statements contained in the Company’s previously filed Annual Report on Form 10 for the fiscal year ended December 31, 2025, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, should no longer be relied upon.

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Source: SEC EDGAR

accession 0001539497-26-001594

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