Brief: MoneyLion Identifies Error In Certain Statements Related To Make-Whole Provision For MALKA Deal

Moneylion

11/08/2022 12:17

Aug 11 (Reuters) - MoneyLion Inc  ML.N :
    * MONEYLION - IDENTIFIED ERROR IN FY 2021 & Q1 2022
FINANCIAL
STATEMENTS RELATED TO MAKE-WHOLE PROVISION AS EQUITY INSTEAD OF
LIABILITY FOR MALKA DEAL
    * MONEYLION INC - MANNER IN WHICH COMPANY ACCOUNTED FOR
MAKE-WHOLE
PROVISION HAD NO EFFECT ON CO'S PREVIOUSLY REPORTED CASH
POSITION
    * MONEYLION - NOTED ERRORS RELATED TO NET LOSS AND BASIC AND
DILUTED LOSS PER SHARE IN CONSOLIDATED STATEMENTS FOR FY 2021
    * MONEYLION - NOTED ERRORS RELATED TO NET LOSS AND BASIC AND
DILUTED LOSS PER SHARE IN CONSOLIDATED STATEMENTS FOR Q1 2022
    * MONEYLION INC -  ON AUGUST 8, AUDIT COMMITTEE OF BOARD
CONCLUDED
ORIGINAL FINANCIAL STATEMENTS FOR FY 2021, Q1 2022 SHOULD NO
LONGER BE RELIED UPON
    * MONEYLION - INTENDS TO RESTATE ORIGINAL FINANCIAL
STATEMENTS FOR
AFFECTED PERIODS IN AMENDMENTS TO ORIGINAL FY 2021 10-K &
ORIGINAL Q1 2022 10-Q
    * MONEYLION - PREVIOUSLY IDENTIFIED MATERIAL WEAKNESS
REMAINED
UN-REMEDIATED AS OF DECEMBER 31, 2021 AND MARCH 31, 2022
    * MONEYLION - REMEDIATION PLAN WITH RESPECT TO MATERIAL
WEAKNESS
WILL BE DESCRIBED IN MORE DETAIL IN CO'S AMENDED REPORTS


Further company coverage:  ML.N 

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