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BRIEF-Velodyne Lidar Identified A Material Weakness In Its Internal Control Over Financial Reporting Related To Accounting For Its Warrants

05/11/2021 14:45
BRIEF-Velodyne Lidar Identified A Material Weakness In Its Internal Control Over Financial Reporting Related To Accounting For Its Warrants

- Velodyne Lidar Inc VLDR.O:

  • VELODYNE LIDAR INC - IDENTIFIED A MATERIAL WEAKNESS IN ITS INTERNAL CONTROL OVER FINANCIAL REPORTING RELATED TO THE ACCOUNTING FOR ITS WARRANTS

  • VELODYNE LIDAR - ACCOUNTING FOR WARRANTS AS LIABILITY WOULD HAVE REDUCED NON-OPERATING EXPENSE & NET LOSS BY $1.6 MILLION FOR YEAR ENDED DEC 31, 2020

  • VELODYNE LIDAR - CONCLUDED EFFECTS OF ACCOUNTING FOR WARRANTS AS LIABILITY WERE IMMATERIAL TO PREVIOUSLY ISSUED FINANCIAL STATEMENTS

  • VELODYNE - PLANS TO ADJUST EQUITY ACCOUNTS FOR EFFECTS OF ACCOUNTING IN WARRANTS IN CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY AT MAR 31, 2021

Source text:(https://bit.ly/3beN4Sr)

Further company coverage: VLDR.O


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