Scorpius Holdings, Inc.: auditor change — NightHawk Biosciences restates Q2 and Q3 2022 financials; net loss overstated

Scorpius Holdings, Inc.

Net loss overstated by ~$3.3M for Q2 2022 and ~$2.9-3.3M for Q3 2022 due to deferred tax asset valuation allowance error from Elusys acquisition.
Restatement will decrease net loss per share by $0.13 for Q2 and $0.12-$0.13 for Q3.
Material weakness identified in internal controls over income tax accounting; remediation plan to be described in 2022 10-K.
Audit committee concluded prior period financials should no longer be relied upon.
Errors had no effect on cash position, pre-tax loss, or operating expenses.

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

Scorpius Holdings, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: BDO USA, LLP

Exact text from the filing

should no longer be relied upon due to errors in such financial statements, and therefore a restatement of these specified financial statements is required.

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Source: SEC EDGAR

accession 0001558370-23-004449

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