Cardiff Lexington non-reliance on 2020 annual and Q1 2021 financials; will restate

Cardiff Lexington Corp

Restated periods: year ended Dec 31, 2020, and quarter ended March 31, 2021.
Issue 1: embedded derivative liabilities in matured convertible notes valued using intrinsic value instead of full Black-Scholes.
Issue 2: modifications to preferred stock rights not accounted for as deemed dividend.
Company will file amendments to 2020 10-K and Q1 2021 10-Q.
Discussed non-reliance with prior auditor Daszkal Bolton LLP and current auditor Rosenberg Rich Baker Berman PA.

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