other material
confidence high
sentiment negative
materiality 0.80
AB International withdraws reliance on Feb 28, 2022 10-Q filed before auditor review
AI Era Corp.
- Board concluded on June 1, 2022 that Q1 FY2022 unaudited financials (quarter ended Feb 28, 2022) should not be relied upon.
- Reason: 10-Q and financials were filed before independent auditor Prager Metis CPAs LLC completed its review.
- Company expects to file an amended 10-Q with reviewed financials as soon as practicable.
- Prager Metis letter (Exhibit 16.1) dated June 3, 2022 agrees with the board's conclusion.
- Management prepared and filed the original 10-Q before auditor sign-off.