Brief: RYVYL Inc's Previously Issued Financial Statements Can No Longer Be Relied Upon

RTB Digital

20/01/2023 22:00

Jan 20 (Reuters) - Ryvyl Inc  RVYL.O :
    * RYVYL INC - CONCLUDED ON JAN 13, SOME OF CO'S COMPANY’S
PREVIOUSLY ISSUED FINANCIAL STATEMENTS CAN NO LONGER BE RELIED
UPON
    * RYVYL INC - ANTICIPATES FILING RESTATEMENTS OF PREVIOUSLY
ISSUED
FINANCIAL STATEMENTS AS SOON AS PRACTICABLE
    * RYVYL INC - EXPECTS TO REPORT ONE OR MORE MATERIAL
WEAKNESSES AS
OF DECEMBER 31, 2021
    * RYVYL - EXPECTS THAT RESTATEMENT OF FINANCIAL STATEMENTS
FOR
SOME ANNUAL & NTERIM PERIODS REFERRED TO ABOVE WILL RESULT IN
DECREASES TO TOTAL REVENUE
    * RYVYL INC - EXPECTS TO REPORT RELATED REMEDIATION EFFORTS
INCLUDING HAVING ENGAGED, AS OF AUG 2022, THIRD PARTY TECHNICAL
ACCOUNTING EXPERTS
    * RYVYL INC - PREVIOUSLY ISSUED FINANCIAL STATEMENTS AS OF
DEC 31,
2021, FOR YEAR ENDED DEC 31, 2021, & INTERIM PERIODS WITHIN 2021
CAN NO LONGER BE RELIED UPON
    * RYVYL - MANAGEMENT CONCLUDED DISCLOSURE CONTROLS,
PROCEDURES
WERE NOT EFFECTIVE AS OF DEC 31, 2021, SEPT 30, JUNE 30, MARCH
31, 2022
    * RYVYL - EXPECTS THAT RESTATEMENT OF FINANCIAL STATEMENTS
FOR
SOME ANNUAL & INTERIM PERIODS WILL RESULT IN INCREASED NET
LOSSES
    * RYVYL -PREVIOUSLY ISSUED FINANCIAL STATEMENTS AS OF DEC
31,
2021, FOR INTERIM PERIODS ENDED SEPT 30, JUNE 30, MARCH 31, 2022
CAN NO LONGER BE RELIED UPON
    * RYVYL - EXPECTS THAT RESTATEMENT OF FINANCIAL STATEMENTS
FOR
SOME ANNUAL & INTERIM PERIODS WILL DECREASE TOTAL ASSETS
    * RYVYL - EXPECTS THAT RESTATEMENT OF FINANCIAL STATEMENTS
FOR
SOME ANNUAL & INTERIM PERIODS WILL RESULT IN DECREASED TOTAL
STOCKHOLDERS’ EQUITY

Source: (shorturl.at/itAQ1)
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