Venus Acquisition restates Feb 2021 balance sheet; reclassifies warrants as equity, shares as temporary equity

MicroAlgo Inc.

Restated balance sheet reclassifies 4,600,000 Public Warrants from liabilities to equity; no effect on operating expenses or cash.
All 4,600,000 ordinary shares subject to redemption reclassified as temporary equity instead of permanent equity.
Management identified material weakness in internal control over financial reporting related to complex equity instruments.
Restatement triggered by April 2021 SEC staff statement on SPAC warrant accounting.

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