AGILE THERAPEUTICS INC: auditor change — Agile Therapeutics restates 2021-2022 financials; net loss overstated by $3.8M and $23.7M

AGILE THERAPEUTICS INC

Audit committee concluded warrants issued in 2021-2022 were improperly classified as equity; should be liabilities at fair value.
Net loss overstated by $3.8M for FY2021 and $23.7M for nine months ended Sep 30, 2022; no impact on revenue, cash, or operating expenses.
Company expects to report at least one material weakness in internal controls; financial statements for those periods should no longer be relied upon.
Nasdaq granted 180-day extension until Aug 14, 2023 to regain minimum $1.00 bid price; shares continue trading on Nasdaq Capital Market.

item 4.02 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

AGILE THERAPEUTICS INC reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

the audited and unaudited financial statements for each of the Non-Reliance Periods should no longer be relied on.

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Source: SEC EDGAR

accession 0001558370-23-002116

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