Brief: Dave Inc - expects to file amended Form 8-K/A with an exhibit with financial statements for fiscal years ended December 31, 2021 and December 31, 2020

Dave

12/08/2022 11:09

Aug 12 (Reuters) - Dave Inc  DAVE.O :
    * DAVE INC - EXPECTS TO FILE AMENDED FORM 8-K/A WITH AN
EXHIBIT
WITH FINANCIAL STATEMENTS FOR FISCAL YEARS ENDED DECEMBER 31,
2021 AND DECEMBER 31, 2020
    * DAVE INC - REEVALUATED ACCOUNTING TREATMENT OF CO'S MEMBER
ADVANCES WITHIN CO'S STATEMENTS OF CASH FLOWS
    * DAVE INC - CONCLUDED CASH FLOWS FROM PRINCIPAL PORTION OF
MEMBER
ADVANCES SHOULD BE INCLUDED AS INVESTING ACTIVITY AS OPPOSED TO
OPERATING ACTIVITY
    * DAVE - DETERMINED TO CORRECT TREATMENT OF PRINCIPAL
PORTION OF
MEMBER ADVANCES IN STATEMENT OF CASH FLOWS FOR AUDITED
FINANCIALS RELEVANT PERIODS
    * DAVE INC - CO NOTES THAT CASH FLOW ADJUSTMENT HAS NO
IMPACT TO
CO'S CASH BALANCES, OPERATING EXPENSE OR NET INCOME
    * DAVE - CASH FLOW ADJUSTMENT DOES NOT IMPACT REVENUE AS
PRESENTED
ON STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS FOR AUDITED
FINANCIALS RELEVANT PERIODS
    * DAVE INC - CO REACHED DETERMINATION UNAUDITED FINANCIAL
STATEMENTS PRESENTED IN Q1 10-Q IMPROPERLY ASSESSED ACCOUNTING
TREATMENT OF EARNOUT SHARES


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