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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (74950)	1/26/2024 10:28:47 AM
From: Harshu Vyas	Read Replies (1) \| Respond to of 78507

This is also true. It's possible management have downplayed just how bade the situation is. They said it was that inventory was missing. Shouldn't that be a quick fix? Sean does make a fair point - the longer it takes to restate financials, the more concerned we should be. The Company performed a physical inventory count at the end of the third quarter of 2023. The results of this count identified a shortfall of inventory relative to the system of record in the range of $8 million to $9 million. The Company believes that this variance began to accumulate prior to the third quarter and is in the process of determining the amounts attributable to prior 2023 periods. The Company expects to complete the analysis of the inventory variance within the next few weeks, at which point full third quarter financial results will be published on Form 10-Q.