SCIENTIFIC INDUSTRIES INC (SCND): auditor change — Scientific Industries restates FY2022, Q1 FY2023; non-reliance due to deferred tax and goodwill errors.

SCIENTIFIC INDUSTRIES INC

Non-reliance on FY2022 audited and Q1 FY2023 unaudited financials due to material misstatements.
Errors: failure to record full valuation allowance against deferred tax asset and goodwill impairment in Bioprocessing segment.
Material weaknesses identified in internal controls over goodwill impairment and income tax accounting.
Restated financials will be included in Form 10-KT for transition period ending Dec 31, 2022.

item 4.02 item 9.01

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

SCIENTIFIC INDUSTRIES 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 because of material misstatements contained in those consolidated financial statements.

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Source: SEC EDGAR

accession 0001654954-23-004850

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