Brief: Hhg Capital-Determined It Had Not Appropriately Accounted For Interest Earned On Investments Held In Trust Account Established In Connection With IPO

HHG Capital

20/03/2024 11:28

March 20 (Reuters) - HHG Capital Corp  HHGC.O :
    * HHG CAPITAL-DETERMINED IT HAD NOT APPROPRIATELY ACCOUNTED
FOR
INTEREST EARNED ON INVESTMENTS HELD IN TRUST ACCOUNT ESTABLISHED
IN CONNECTION WITH IPO
    * HHG CAPITAL CORP - INTEREST EARNED ON INVESTMENT HELD IN
TRUST
ACCOUNT, NET INCOME, AND ORDINARY SHARES SUBJECT TO REDEMPTION
WERE MISSTATED
    * HHG CAPITAL CORP - INTEREST INCOME WAS RECORDED BASED ON
ACTUAL
CASH RECEIPT INSTEAD OF ON AN ACCRUAL BASIS
    * HHG CAPITAL-CONCLUDED ERRORS WERE MATERIAL TO FINANCIAL
STATEMENTS FOR FY ENDED DEC 31, 2022, QTRS ENDED MARCH 31, 2023,
JUNE 30, 2023, SEPT 30, 2023
    * HHG CAPITAL CORP - PREVIOUSLY ISSUED FINANCIAL STATEMENTS
SHOULD
NO LONGER BE RELIED UPON AND WOULD REQUIRE CERTAIN RESTATEMENT
ADJUSTMENTS

Source text for Eikon:  ID:n0001493152-24-010605 
Further company coverage:  HHGC.O 

 ((Reuters.Briefs@thomsonreuters.com;))