WB Burgers Asia, Inc.: auditor change — WB Burgers Asia restates FY2021 financials; incorrect share issuance and consolidation errors

WB Burgers Asia, Inc.

Cash for 9,090,909 shares received by related party in July 2021, not company until Sept; shares issued in Oct, not July.
Fair value of 1,000,000 Series A preferred shares issued as compensation adjusted per third-party valuation.
Restatement includes consolidation of subsidiary WBBJ, which became wholly owned in Sept 2021.
Retroactive revisions to share cancellation/exchange dates due to recapitalization effective March 2021.
Reclassification of expenses paid on company's behalf from financing to operating activities on cash flow statement.

item 4.02 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

WB Burgers Asia, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: BF Borgers CPA PC

Exact text from the filing

the Company's previously issued financial statements included in its Annual Reports on Form 10-K for the year ended July 31, 2021, should be restated

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Source: SEC EDGAR

accession 0001599916-23-000117

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