TPT GLOBAL TECH, INC.: auditor change — TPT Global Tech restates Q3 2023 financials; $1.226M balance sheet error

TPT GLOBAL TECH, INC.

Non-reliance on previously issued unaudited Q3 2023 financial statements due to errors.
Restatement will decrease Total Assets and Mezzanine Equity by $1,226,000 each.
Error discovered in land acquisition agreement canceled on April 12, 2024 due to undisclosed mortgage.
Amended Q3 2023 10-Q expected to be filed on or before April 19, 2024.
Management concludes disclosure controls ineffective due to lack of personnel and outside directors.

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

TPT GLOBAL TECH, INC. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Sadler, Gibb & Associates, LLC

Exact text from the filing

On April 5, 2024, the Board of Directors of TPT Global Tech, Inc. (the “Company”), in consultation with management and Sadler, Gibb & Associates, LLC, (“Sadler/Gibb”), the Company's independent registered public accounting firm, concluded that the Company's previously issued unaudited condensed consolidated financial statements contained within the Quarterly Reports on Form 10-Q for the quarterly period September 30, 2023 should no longer be relied upon due to errors in such financial statements, and therefore a restatement of this prior financial statement is required.

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Source: SEC EDGAR

accession 0001654954-24-004664

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