Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related
Audit Report or Completed Review.
On
? The fiscal year endedJune 30, 2020 , contained in the Annual Report on Form 10-K filed with the Commission onNovember 13, 2020 ; ? the fiscal quarter endedSeptember 30, 2020 , contained in the Form 10-Q filed with the Commission onJanuary 11, 2021 ; ? the fiscal quarter endedDecember 31, 2020 , contained in the Form 10-Q filed with the Commission onApril 20, 2021 ; ? the fiscal quarter endedMarch 31, 2021 , contained in the Form 10-Q filed with the Commission onAugust 10, 2021 ; ? the fiscal year endedJune 30, 2021 , contained in the Annual Report on Form 10-K filed with the Commission onSeptember 28, 2021 ; ? the fiscal quarter endedSeptember 30, 2021 , contained in the Form 10-Q filed with the Commission onNovember 16, 2021 ; ? the fiscal quarter endedDecember 31, 2021 , contained in the Form 10-Q filed with the Commission onMarch 9, 2021 ; ? the fiscal quarter endedMarch 31, 2022 , contained in the Form 10-Q filed with the Commission onMay 20, 2022 (collectively, the "Financial Statements").
In the Financial Statements, loans made by the Company to
In addition, income generated from the Company's sales to Zhejiang Malai was previously recorded in the Financial Statements as revenue. Given the fact that Zhejiang Malai is a related party, the Financial Statements will be revised to properly record revenue generated from sales to Zhejiang Malai as revenue from a related party. Notwithstanding the prior error in recording these transactions, the total amount of the Company's revenues will not change.
The Company will file amended reports with the Commission for each of the periods indicated above as soon as practicable. The Company does not expect that the above-described revisions will affect the Company's previously reported pre-tax income (loss), net income (loss), earning per share, or total revenue as reflected in the Financial Statements.
Management discussed the matters disclosed in this Current Report on Form 8-K ("Form 8-K") with the Company's independent registered public accounting firm and provided them with a copy of these disclosures.
Cautionary Statement Regarding Forward-Looking Information
This Form 8-K contains "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. The Company intends
forward-looking terminology such as "believes," "expects," "may," "will,"
"should," "anticipates," "plans," or similar expressions to identify
forward-looking statements. Such statements are subject to certain risks and
uncertainties, which could cause the Company's actual results to differ
materially from those anticipated by the forward-looking statements. These risks
and uncertainties include, but are not limited to, risks described more fully in
Item 1A in the Company's Annual Report on Form 10-K, which is expressly
incorporated herein by reference, and other factors as may periodically be
described in the Company's filings with the
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