other_material
confidence high
sentiment negative
materiality 0.75
Marcum audit report not authorized for Finnovate's 2024 10-K; 2023 financials unaudited
Finnovate Acquisition Corp.
- Marcum LLP notified Finnovate on June 5, 2025 that it had not completed audit procedures for FY2023; did not sign audit report included in 2024 10-K.
- Company states 2023 financial statements in 2024 10-K are unaudited and should not be relied upon due to the deficiency.
- Company plans to file 10-K/A to include authorized Marcum audit report, update cover page, and add new CEO/CFO certifications.
- Audit committee and management have discussed the matters with Marcum.
item 4.02