Massimo Group (MAMO): auditor change — Massimo Group will restate FY2024 financials; sales down $1.9M, net income down $1.4M

Massimo Group

Audit committee concluded FY2024 financials should no longer be relied upon due to misstatements.
Restatement reduces sales by ~$1.9M and net income by ~$1.4M from underestimated holiday promotion markdowns.
Material weakness in internal controls identified; disclosure controls not effective as of Dec 31, 2024 and Mar 31, 2025.
Company plans to file amended 10-K (Amended 2024 Annual Report) to correct the errors.

item 4.02

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

Massimo Group reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

On May 14, 2025, the audit committee of the board of directors of Massimo Group (the “ Company ”), after discussion with the management of the Company, concluded that the Company’s previously issued audited consolidated financial statements for the fiscal year ended December 31, 2024 included in the Company’s Form 10-K as filed with the Securities and Exchange Commission (the “ SEC ”) on March 26, 2025 (the “ Form 10-K ”) should no longer be relied upon and need to be restated

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6 auditor changes filed in the last 30 days. Browse all auditor changes →

Massimo Group filing history →

Source: SEC EDGAR

accession 0001641172-25-011243

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