Moatable ( (MTBLY) ) has released a notification of late filing.
Moatable, Inc. has announced a delay in filing its Form 10-K (Yearly Report) for the financial period ending December 31, 2024. The delay is primarily due to the discovery of understated sales tax liabilities amounting to $3.651 million, necessitating restatements of previous financial statements. This complexity, coupled with the need for thorough review, has made timely filing impractical. The company expects to file the report within fifteen days of the original deadline. Financially, Moatable anticipates a 22% increase in revenues and a significant 84% reduction in net loss for the year ending December 31, 2024, driven by growth in its SaaS business. However, the company has identified three material weaknesses in its internal controls. Moatable is actively working on compliance and accuracy in its financial reporting, as indicated by the signature of CFO Scott Stone.
More about Moatable
YTD Price Performance: 39.13%
Average Trading Volume: 9,568
Technical Sentiment Signal: Sell
Current Market Cap: $31.63M
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