Clean Vision Corp. Restates Financials
Ticker: CLNV · Form: 8-K · Filed: Jul 25, 2024 · CIK: 1391426
| Field | Detail |
|---|---|
| Company | Clean Vision Corp (CLNV) |
| Form Type | 8-K |
| Filed Date | Jul 25, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-restatement, accounting-review
TL;DR
Clean Vision Corp. is restating its financials, don't trust old numbers.
AI Summary
Clean Vision Corp. announced on July 20, 2024, that it will not rely on previously issued financial statements for the fiscal year ended December 31, 2023, and interim periods thereafter. This decision stems from an ongoing review of its financial reporting, and the company expects to file corrected financial statements in the near future.
Why It Matters
This filing indicates potential inaccuracies in past financial reporting, which could impact investor confidence and the company's stock valuation until corrected.
Risk Assessment
Risk Level: medium — Restating financial statements suggests potential accounting issues or errors, which can create uncertainty for investors.
Key Players & Entities
- Clean Vision Corp. (company) — Registrant
- July 20, 2024 (date) — Date of earliest event reported
- December 31, 2023 (date) — Fiscal year end for previously issued financial statements
FAQ
What specific periods do the non-relied-upon financial statements cover?
The company will not rely on previously issued financial statements for the fiscal year ended December 31, 2023, and interim periods thereafter.
What is the reason for not relying on the previously issued financial statements?
The company is conducting a review of its financial reporting and expects to file corrected financial statements.
When did Clean Vision Corp. file this 8-K report?
The report was filed on July 25, 2024, with the earliest event reported being July 20, 2024.
What is the company's state of incorporation?
Clean Vision Corp. is incorporated in Nevada.
What is the company's principal executive office address?
The principal executive office is located at 2711 N. Sepulveda Blvd., Suite 1051, Manhattan Beach, CA 90266.
Filing Stats: 635 words · 3 min read · ~2 pages · Grade level 12.8 · Accepted 2024-07-25 17:00:11
Filing Documents
- clnv_8k.htm (8-K) — 33KB
- ex99_1.htm (EX-99.1) — 6KB
- image_001.jpg (GRAPHIC) — 53KB
- image_002.jpg (GRAPHIC) — 10KB
- 0001903596-24-000431.txt ( ) — 294KB
- clnv-20240720.xsd (EX-101.SCH) — 3KB
- clnv-20240720_lab.xml (EX-101.LAB) — 33KB
- clnv-20240720_pre.xml (EX-101.PRE) — 22KB
- clnv_8k_htm.xml (XML) — 3KB
02. Non-Reliance on Previously Issued Financial
Item 4.02. Non-Reliance on Previously Issued Financial On July 20, 2024, Clean Vision Corporation (the "Company") received a written notification from its independent registered public accounting firm, Fruci & Associates II, PLLC ("Fruci"), advising the Company that, through no fault of the Company and solely due to Fruci's failure to follow sufficient audit procedures, the financial statements (the "2023 Financials") and audit opinion (the "2023 Fruci Opinion") issued by Fruci in connection with the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Annual Report") can no longer be relied upon and that Fruci was withdrawing the 2023 Fruci Opinion. During conversations between Fruci and certain members of the Company's management and board of directors where these matters were discussed, Fruci took full responsibility and advised the Company that the failure to sufficiently comply with audit procedures concerning the 2023 Financials and 2023 Fruci Opinion resulted solely from Fruci's failure to complete sufficient audit procedures and not from any act or omission of the Company. Fruci also advised the Company that it (i) is in the process of completing the omitted audit procedures and (ii) fully agrees with the disclosure contained in this Current Report on Form 8-K as set forth in its letter to the Company dated July 25, 2024, a copy of which is filed as Exhibit 99.1 herewith. Upon Fruci's successful completion of the omitted audit procedures, the Company intends to file an amendment to its 2023 Annual Report to include a new audit opinion from Fruci.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits . Exhibit No. Description 99.1 Letter from Fruci & Associates II, PLLC to the Clean Vision Corporation dated July 25, 2024
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CLEAN VISION CORPORATION Date: July 25, 2024 By: /s/ Daniel Bates Name: Daniel Bates Title: Chief Executive Officer