BODY & MIND INC.: auditor change — Body and Mind restates Q2 & Q3 FY2024 financials; VIE and fee-income errors

BODY & MIND INC.

Board determined Q2 FY2024 (Jan 31, 2024) and Q3 FY2024 (Apr 30, 2024) financials should no longer be relied upon.
Errors: entity incorrectly deconsolidated (should have been asset held for sale as a VIE) and management fee income not properly recorded.
Misstatements deemed material on a cumulative basis by the Board.
Company will file amended 10-Qs for Q2 and Q3 FY2024 to restate the financials.
Procedures pending: external accounting memo, additional review, and auditor QC sign-off.

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

BODY & MIND INC. reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On February 3, 2025, the Board of Directors of Body and Mind Inc. (the “ Company ”) determined that certain of the Company’s previously issued condensed consolidated financial statements as noted below should no longer be relied upon.

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Source: SEC EDGAR

accession 0001640334-25-000199

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