Insignia restates 2019-2020 financials due to sales tax errors; prelim Q2 2021 rev ~$6M

BLOOMIA HOLDINGS, INC.

Non-reliance on audited FY2019/FY2020 and unaudited interim 2020/Q1 2021 statements due to sales tax misstatements.
FY2020 restatement: net sales reduction $175K-$300K, net loss increase $325K-$450K.
Q1 2021 restatement: net sales reduction $50K-$150K, net loss increase $50K-$200K.
Preliminary Q2 2021: net sales $5.9M-$6.1M, net loss $850K-$1,050K; non-POPS revenue ~79% of total.
Material weakness in internal controls over financial reporting identified; remediation underway.

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