RENEWABLE INNOVATIONS, INC. | Item 2.02 | Results of Operations and Financial Condition. |
The information set forth under Item 4.02 is incorporated into this Item 2.02 by reference.
Section 4 - Matters Related to Accountants and Financial Statements
In preparation of the second quarter 2023 financial statements, management recognized potential errors in prior-period accounting. After reviewing the accounting records, management determined that an error occurred in the reported first quarter 2023 financial records.
The error is that certain warrants issued by Nestbuilder prior to the reverse merger with Renewable Innovations, and that vested upon the reverse merger, were not expensed in the first quarter of 2023. Management has been assessing their internal controls and working to improve the design and implementation of those internal controls in an effort to prevent such misstatements from occurring in the future.
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Renewable Innovations Inc. published this content on 13 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 November 2023 22:24:30 UTC.
