Brief: Dolphin Says Audit Committee Determined Certain Financial Statements Should Not Be Relied Upon

Dolphin Entertainment

08/04/2021 23:11

April 8 (Reuters) - Dolphin Entertainment Inc  DLPN.O :
    * DOLPHIN ENTERTAINMENT-ON APRIL 8, AUDIT COMMITTEE
DETERMINED
FINANCIAL STATEMENTS FOR 3 & 9 MONTHS ENDED SEPT 30, 2020 SHOULD
NO LONGER BE RELIED UPON
    * DOLPHIN ENTERTAINMENT - PRIOR PERIOD FINANCIAL STATEMENTS
TO NO
LONGER BE RELIED ON DUE TO ERROR IN ACCOUNTING FOR REVENUE
RELATED TO CERTAIN SOWS
    * DOLPHIN ENTERTAINMENT - DUE TO ERRORS, BOTH REVENUE &
DIRECT
COSTS FOR 3 AND 9 MONTH PERIODS ENDED SEPT 30, 2020 WERE EACH
OVERSTATED BY $862,710
    * DOLPHIN ENTERTAINMENT - PLANS TO INCLUDE INFORMATION
DETAILING
RESTATEMENT FOR 3 & 9 MONTHS ENDED SEPT 30, 2020 IN FORM 10-K
FOR YEAR-ENDED DEC 31, 2020
    * DOLPHIN ENTERTAINMENT - EXPECTS TO CONTINUE TO REPORT
MATERIAL
WEAKNESSES IN ITS INTERNAL CONTROL OVER FINANCIAL REPORTING AS
OF DEC 31, 2020

Source text: (https://bit.ly/39V9do8)
Further company coverage:  DLPN.O 

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