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An update from NWTN ( (NWTN) ) is now available.
NWTN Inc., a Cayman Islands exempted company, recently underwent a significant change in its accounting practices by dismissing Marcum Asia CPAs LLP as its independent registered public accounting firm on January 9, 2025. This decision was made following the identification of errors in the financial statements for the fiscal years ended December 31, 2022, and 2021, as well as interim statements for 2023, which necessitated restatements due to improper accounting for shareholder borrowings. The audit committee has appointed AssentSure PAC as the new accounting firm, highlighting NWTN Inc.’s ongoing efforts to address internal control weaknesses in financial reporting and ensure compliance with U.S. GAAP and SEC requirements. The company is currently implementing a remediation plan to strengthen its financial reporting processes.
More about NWTN
YTD Price Performance: -7.92%
Average Trading Volume: 436,297
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $222.1M
See more insights into NWTN stock on TipRanks’ Stock Analysis page.
