Tego Cyber, Inc. (TGCB): auditor change — Tego Cyber restates Q3 2022 financials; prior filings no longer reliable

Tego Cyber, Inc.

Error in promissory note accounting; $342,702 added to notes payable, convertible debt reduced by $336,767.
General & admin expense increased by $625,367; share-based compensation reduced by same amount.
Accretion expense of $192,332 added; interest on issuance of debts reduced by $196,767.
Original 10-Q (Nov 2022) and Amendment No.1 (Feb 2023) both withdrawn; Amendment No.2 pending.
Company's independent auditor BF Borgers CPA PC consulted; restatement impacts Q3 2022 balance sheet and P&L.

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

Tego Cyber, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: BF Borgers CPA PC

Exact text from the filing

Tego Cyber Inc. (the “Company”) previously issued unaudited financial statements for the three months ended September 30, 2022, filed on November 21, 2022 (“Original Filing”), should be restated and no longer be relied upon.

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Tego Cyber, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-23-003134

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