SHF Holdings, Inc. (SHFS): auditor change — SHF Holdings restates Q1 2025 results; stock-based comp error adds ~$500K to loss

SHF Holdings, Inc.

Restatement of Q1 2025 financials due to incorrect Black-Scholes inputs (expected term, stock price); increases operating expenses and net loss by ~$500K.
Audit Committee discussed the restatement with independent auditor MGO before filing.
Amended Form 10-Q for the three months ended March 31, 2025, was filed on August 14, 2025.
All previously issued earnings releases and investor communications for Q1 2025 should no longer be relied upon.

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

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

Action: non reliance
Auditor: Macias Gini & O'Connell LLP

Exact text from the filing

should no longer be relied upon due to an error in the calculation of stock-based compensation expense.

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SHF Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-025203

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